Becoming CMO

On this episode of Becoming CMO, I talk about career decisions. Topics: What prevents workers from advancing. Are you overlooked or appreciated? Making sure you can analyze your own work, Why being yourself matters. Quotes: [01:02] “I was concerned more so as to what was keeping them from moving up.” [03:36] “As women, we sometimes undervalue ourselves.” [08:16] “This is where you have to think and say: Am I in a place that I love so much that I’m willing to stay in this job and hope and help the company to get into growth mode…?”

On this episode of Becoming CMO, I follow up our discussion of pre-family meetings with a chat about what happens during the family meeting itself. Topics: Family legacy. Sharing the value of assets. Types of assets. Discussing fair vs. equal. Resources: The Lerner Group

It’s so important to have a pre-family meeting with your spouse to discuss what will be passed on, to whom, and why. Topics: ● Why a pre-family meeting is important. ● Deciding on amounts. ● Figuring out what is fair, as opposed to equal. ● Setting up trusts to protect your assets. Quotes: [01:35] “...There is the case where we’ve had clients that, it’s just them...so, in those cases, is where we recommend just to have someone there who isn’t one of the beneficiaries.” [04:34] “If you have one child, it’s pretty easy...but if it is five children, how do you decide?” [08:40] “Make sure you build what your wishes are into a trust, but explain it to the children…” Resources: The Lerner Group

On this episode, we are going to discuss family meetings with respects to wealth transfer. Tune in to hear us chat about this age-old topic. Topics: ● Sometimes, inheritances don’t go as smoothly as people would like. ● Why communication is always important to pass on your legacy. ● Every family plan is different, we discuss how to decide which one is best for your family. ● What the future looks like for Millennials vs. Baby Boomers for wealth transfer. Quotes: [01:29] “It’s so important to share, sometimes, very detailed information and in other cases...at least a structural layout of things to come.” [04:01] “Too many people are ready to are just so ready to enjoy the money that’s coming into their hands, that they forget that there is a responsibility that comes along with inheriting wealth.” [07:20] “Building out intentional communication is key.” Resources: The Lerner Group https://www.fa-mag.com/news/boomers-are-thriving-on-an--unprecedented---9-trillion-inheritance-52819.html https://www.forbes.com/sites/jackkelly/2019/10/26/millennials-will-become-richest-generation-in-american-history-as-baby-boomers-transfer-over-their-wealth/#58dfd29b6c4b