coronavirus Archives - Page 2 of 6 - David Werdiger
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coronavirus Archives - Page 2 of 6 - David Werdiger

Perspective for family business and covid grieving

Grieving 2020

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The pandemic is not over, but after nearly a year, we know a lot more, and there are reasons for hope. There are feelings of ambiguous loss, of knowing we can’t go back (and perhaps not wanting to), but missing who we were and what we had “before”. As 2020 draws to a close, we may be catching up with family, in some cases after being separated for a long time. It is a time…

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wealth transfer woman succession attorney

Wealth Transition

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A successful wealth transition means the family stays intact and they maintain control of the assets. Ideally, you’d like both. Some families can only achieve one, and some end up with neither. People often setup their estate plan so that it will avoid tax and preserve wealth, but they’re really not paying attention to the impact of their plan on the next generation. The biggest risk to their assets is not the market or the business or…

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Is your business sale ready

Are you prepared to sell your business? Sale readiness tips.

By | Articles, Clearview Financial Media, Familosophy, Featured Posts, In The News, LinkedIn | No Comments

For a business founder, their ”investment” in the business is multi-dimensional: financial and emotional. Selling the business isn’t just an event, it’s a journey. So argues the author of this article, an author, advisor and figure in the wealth management industry. There is a lot of commentary at the moment about business owners selling and transferring what they have built. It is an emotional and challenging process and the field is littered with stories of…

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Distributions and Investment Risk for Future Generations

Distributions and Investment Risk for Future Generations

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A fascinating research article discusses public debt and intergenerational burden shifting. Using laboratory experiments, it seeks to understand how voters make choices about the way public debt should be accumulated in the presence of multiple and/or overlapping generations. The study finds that in the presence of future generations, voters are comfortable with the government loading up with debt in the knowledge that this debt burden will have to be satisfied by future generations. But without…

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Gatekeeper to wealthy families

Gatekeepers to Wealthy Families

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The pandemic crisis is forcing the hand of family businesses to address the pace of change in new ways. Every day we must act and even make some tough choices—despite the lack of any reliable information about the best direction to take. Some owners make tough decisions on their own, rather than seeking help from others. Some choose impulsive or blind allegiance pathways. I wrote the following on the Bloomberg press about the Singh brothers…

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Spending Your Kids Inheritence

Choosing to Spend Your Kids Inheritance

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Whether you choose to spend your kids inheritance, gift assets, or you prefer to hold money back for the kids, managing what you leave behind can be done a few different ways. There is no right way, and there should be no pressure to choose one direction or another. Your life, your money! Mass media will always jump on stories that seek to challenge and debunk commonly accepted narratives. CNBC is running a story suggesting…

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Men vs Women on surpassing their parents success

Men vs Women on surpassing their parents success

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Children tend to grow up with their parents as role models and therefore their benchmarks of success. Now, here is some real research on generational difference. According to a study by Oxford University academics, men who surpass their parents’ qualifications report lower levels of psychological stress, while those who do worse are more likely to feel depressed, lonely or sad. Women, however, have no such hangups. The study is quite extensive – using European Social…

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Social Media Cheat Sheet for intergenerational targets

Social Media Cheat Sheet for Intergenerational Targets

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What have you noticed about the difference between the way you and other generations (up or down) use social media? I stumbled across a wonderful article that deals with the intersection of two of my favourite topics: intergenerational issues and the impact of social media on society. It analyses the starkly different ways that Facebook is used by Baby Boomers, as opposed to Millenials. It comes from a web site called The Cheat Sheet, which is…

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Generation Wars Young Entrepreneur

Using Generational Influence to Move the Economy

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  I think the notion of generational wars is a perpetual myth (or perhaps a perpetual truth). Every generation has certain influences which drive their attitudes (political & social) and thus the policies enacted by their leaders. It’s very easy to point cross-generational fingers of blame, but very hard to sit in the other-generational seat and play judge. Have the Baby Boomers ruined the US economy (and the world) for the Millenials? That’s what Bruce…

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Heirs to the family business

Heirs to the Family Business

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As The Economist magazine poignantly wrote: “Inheritance is a process, not an event”. According to Australian research, family businesses are ill prepared for succession planning, appointing a new CEO, or even a strategy for the future of the business. The first consideration is whether anyone in the family even wants to take over the business – plenty of children have no interest. Then, decide if the current owner(s) want to hand it over. Any successful…

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