David Ortiz, CFP®, CEPA®’s Post

On March 12th Highland was delighted to welcome a nice group of friends of the firm to the inaugural session of our “Let’s Talk” lunch series. This series is meant to be an enjoyable forum for education and discussion on issues related to wealth, transition, generosity, and family. This first session’s topic was “Transitioning Well,” and we considered foundational principles around transfer, treatment, and timing as families move through the process of transitioning wealth to future generations and charitable causes. It was a privilege to share perspectives and stories with our guests, while enjoying lunch and beautiful spring weather.   Looking forward to the next “Let’s Talk” session!   #familywealth #Highlandconsultingassoc #letstalk Highland Consulting Associates, Inc. was founded in 1993 with the conviction that companies and individuals could be better served with integrity, impartiality, and stewardship. Today, Highland is 100% owned by a team of owner-associates galvanized around this promise: As your Investor Advocates®, we are Client First. Every Opportunity. Every Interaction.   Highland Consulting Associates, Inc. is a registered investment adviser. Information presented is for educational purposes only and is not intended to make an offer of solicitation for the sale or purchase of specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Estate planning can be a sensitive topic, but it's essential to ensure that your wishes are carried out. It's not just about dividing #assets; it also involves addressing legal issues, minimizing taxes, and making sure that your personal and financial affairs are handled just the way you want them to be. It involves more than just wills and asset distribution. It's about weaving your values, aspirations, and care for loved ones into a lasting legacy. Here are some fictional examples to help understand how Estate Planning can be applied: 🔹 Business succession Consider the case of Elena, a successful entrepreneur. Her estate plan includes a detailed succession strategy for her business, ensuring a smooth transition to her chosen successors, preserving her life's work, and maintaining the company's stability for employees and stakeholders. 🔹 Charitable giving Take, for example, Michael, a philanthropist. His estate plan incorporates charitable trusts, allowing him to continue supporting his cherished causes even after his lifetime. This not only creates a lasting impact but also offers tax benefits. 🔹 Personal values and family dynamics Reflect on Aisha’s story, who values education deeply. Her estate plan establishes educational trusts for her grandchildren, ensuring her commitment to learning is passed down and financially supported. Your estate plan should mirror the unique tapestry of your life. Whether it's safeguarding a family business, contributing to society, or honoring personal values, your estate plan can and should be a reflection of what matters most to you. #estateplanning

Marvin J. Schmidt is a big believer in the family office industry. In fact, he's writing a book about the business to be released this fall. "When people see the Canadian industry is starting to take off, you get a lot of copycats, a lot of people who just want to jump into the party. So many people now say they’re in the family office business. But truly, are they? That’s our number one goal: to try to work toward some kind of standard." #familyoffices #familyoffice #wealth #wealthmanagement The UHNW Institute #FEA #FEC

Legacy planning is about preserving values and impact. Define your legacy, clarify goals, engage in estate and charitable giving, ensure succession, communicate intentions, and continuously evolve. Leave a lasting impact that inspires generations. #secondopinion #businessowner #Entrepreneur #Wealthmanagment #financialplanning Davenport & Company is a financial services firm and does not provide tax or legal advice. Please consult your professional accounting or legal advisors prior to acting on any information provided by us that may have an effect in these areas. Securities and Advisory Services offered through Davenport & Company LLC

🌿 Uncover the soulful side of financial planning with Andy Rodgers on the Heart Led Business Show! 💡 From legacy conversations to charitable endeavors, Andy's holistic approach to wealth management will inspire you to redefine success. Connect with us today for a transformative journey into heart-led finance! #SoulfulFinance #LegacyPlanning #FinancialEmpowerment #DreamBig #HeartLedBusinessShow #HeartOverHustle #BusinessWithHeart #WealthAndWellness #HeartLedBusiness #ConsciousCapitalism

In the lifecycle of every family business, there comes a pivotal moment when its founder or current leader will pass on. This transition, while inevitable, doesn't have to lead to uncertainty or instability. A legacy assessment is more than just an estate plan. While estate plans are crucial, they cover the legal aspects of asset disposition. A legacy assessment delves deeper, preparing the family and the business for smooth continuity and aligning with the owner’s wishes. So, what does a legacy assessment involve? • Provides a holistic view of the business’s future and the family’s financial stability. • Identifies potential liquidity gaps from projected expenses, liabilities and potential estate taxes. • Determines who will control the business next. • Evaluates the effects of charitable gifts and potential conflicts among beneficiaries. By engaging in thorough legacy assessments, family businesses can anticipate and manage the ripple effects of leadership transitions. This proactive approach not only honors the owner’s vision but also strengthens the business for future generations. Click on the following link to learn more. #FamilyBusiness #LegacyPlanning #BusinessContinuity #EstatePlanning #FinancialStrength

While awareness around estate planning is on the rise, a legacy assessment is a key to a holistic preparation.

✨ In this intimate interview with Steve Randall, Rick Nott, CFA, CFP®, CPWA® of Angeles Wealth Management, the private wealth division of Angeles Investments, shares the story of his career in wealth management. Rick lends insight into what inspired him to become an advisor and his early fascination with the "unique way that assets, family values and culture were passed down." He also discusses his work with high-profile UNHW clients, the rise of charitable giving among this client segment, his views on championing diversity in wealth management and more. 📰 Keep reading on InvestmentNews: #wealthmanagement #UHNW https://lnkd.in/gh-pzuAd

DO YOU HAVE SUCCESSION STRATEGY FOR YOUR BUSINESS? Business succession planning can be complex, with many facets. Many options exist, from ESOPs, family succession, and management buyouts to third-party sales, IPOs, and charitable donations. Each has its advantages and complexities. Your business is our business: Let’s explore these succession planning strategies together to find the best fit for your needs, ensuring a smooth transition and maximizing control and tax efficiency. #successionplanning #ESOPs #wealthsuccession #familysuccession

Integration is essential when it comes to wealth planning. Creating integration for your wealth means bringing all the pieces together; assets, vision, family, professional advisors, charitable goals, and philosophies. #business #planning #wealthplanning #businessowners