Your Succession, My Succession

  • hbo-succession

    Your Succession, My Succession

    by Randy Fox, CFP®, AEP®

    HBO’s Succession

    Much has been written about the popular HBO mini-series, “Succession”. Viewers and critics have discussed the dysfunctional billionaire family and their intricate inter-play. The failed take overs, the backstabbing, the jockeying for favor to see who will reign over the family empire makes for good television and interesting fodder […]

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  • Money

    It’s not about the Money

    by Randy Fox, CFP®, AEP®

    Thirty-five years in financial services and the last twenty plus working with high net worth families and I’m just now realizing that all the time we spend talking about money, planning, cash flow, tax savings wealth transfer and philanthropy is mostly a smoke screen. Certainly, there are problems to solve and […]

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  • Procrastination

    Procrastination

    by Randy Fox, CFP®, AEP®

    We all participate in procrastination. Clean out the garage. Later. Fill out the tax return. Tomorrow. The human psyche apparently thrives on waiting as long as possible to complete onerous tasks. Mowing the lawn a day later probably won’t make a huge difference in anyone’s life. What doesn’t make sense, though […]

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  • Financial Planning Conference

    Rendezvous Conference Nine

    by Randy Fox, CFP®, AEP®

    Purposeful Planning Institute just held the ninth annual Rendezvous conference in Denver. The conference is a one of a kind opportunity for multi-disciplinary interaction and education. Certainly, there are conferences for disparate professionals, but none that I’m aware of put not only financial and legal professionals in the same room but […]

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  • Collaboration in Financial Planning

    The Blind Side of Collaboration

    by Randy Fox, CFP®, AEP®

    Every client I work with is part of a collaboration. Since I don’t have a client facing practice, my work comes from other professionals, which means collaboration is a requirement, not an option. After many years of utilizing this business model, I’ve had enough experience to know how collaboration can work […]

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  • pull-back-the-curtain-opportunity-zones

    Opportunity Zones (OZ):

    Pulling back the curtain in the land of Oz by Randy Fox & Suzanne Jack

    From the late 1970s through the mid-1980s, there existed every kind of tax shelter imaginable. It was the Opportunity Zone or “Oz” of planning since we weren’t in Kansas anymore. We were in a place we didn’t understand that was far, […]

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  • Charitable Giving, not just for the holidays!

    Christmas Comes but Four Times a Year. Huh?

    Charitable gifts are not just for the holidays

    by Randy Fox, CFP®, AEP®

    Last year and every year, in fact, it is estimated that 30% of the $300 Billion of charitable gifts are made around Christmastime in December. In fact, most recently, 10%, that’s $30 Billion came in the last 48 hours of the year. This is […]

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  • respect-protect-elders

    Respect (and Protect) Your Elders

    by Randy Fox, CFP®, AEP®

    In a recent webinar, attorney Martin Shenkman provided some astonishing and frightening statistics about abuse and fraud targeting elders. Here are some of the key points.

    • Senior citizens may lose nearly 25 times more to scammers than what is reported.
    • 200,000 cases of elder financial abuse are reported annually to U.S. authorities with […]

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  • teach-your-children

    Teach your Children…

    by Randy Fox, CFP®, AEP®

    The Crosby, Stills, Nash and Young song title from 1970 proves to be prescient in its words and meaning, “Teach your Children”. Researchers at Emory University have found “Children who know stories about relatives who came before them show higher levels of emotional well-being.” That is to say, sitting around the […]

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  • charitable-excise-tax

    New Charitable Excise Tax Threatens Private Foundations:

    Unintended Consequences Strike Again

    by Randy Fox, CFP®, AEP®

    A recent release by the IRS, Notice 19-09, provides guidance on §4960 which was enacted in December, 2017. The section imposes an excise tax of 21% on compensation that exceeds $1 million annually for employees of tax-exempt organizations. The Notice goes into great detail and provides many examples […]

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