Value Added: Wealth Transfer Planning & Next Gen Preparation

An inheritance has the potential to alter lives and cause major tension. So how can you set up your successors for success?

Show Notes

You’ve worked your whole life to provide for your family, and you want to ensure they are taken care of after you’re gone. But passing on that wealth can be nerve-wracking. An inheritance has the potential to alter lives and cause major tension. How can you set up your successors for success?

That’s where wealth transfer planning comes in. A successful wealth transfer plan passes on more than just wealth—it imparts core values, which help dictate how that money is used and gives inheritors the tools to thrive. The best plans educate inheritors over many years, and so we’ve invited a guest who has specialized in wealth transfer for many years: Felix Meneses, Senior Vice President and Dallas Market Executive for Cadence Bank’s Trust and Asset Management.

On our final episode of Season One, we’ll cover the core financial values that you need to impart to your children, age-appropriate activities to instill those values, and how to structure your plan to reflect those principles. Felix will also share how to construct your team of advisors and how corporate governance can help you avoid family disputes.

Join us as we finish out our season in style, transferring a wealth of knowledge to you!

Highlights:

●      What is wealth transfer? (2:39)

●      Identifying priorities (4:19)

●      Core values: Stewardship, Philanthropy, Entrepreneurship (6:05)

●      How to talk to your kids about money (9:27)

●      Age-appropriate financial education (11:14)

●      Fun teaching activities for young kids (12:29)

●      Wealth transfer structures (15:23)

●      Keys to a good plan: A team of advisors (16:47)

●      Keys to a good plan: Corporate governance structures (19:03)

●      Creative ways to implement family corporate governance (20:44)

●      Executing the plan (22:12)

●      Inheritor responsibilities (23:41)

●      The importance of communication (25:59)

 

Links:

●      Cadence Bank Website

●      Cadence Bank Twitter

●      Cadence Bank LinkedIn

●      Felix Meneses LinkedIn

●      Cadence Bank – Trust & Asset Management

●      Cadence Bank – Wealth Empowerment Program

●      Cadence Bank – Philanthropy Services

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producers, [e-mail] or [e-mail]. 

What is In Good Companies?

Starting and running a business or managing one isn’t for the faint of heart. You’re balancing internal and external forces in a continually changing landscape. You’re building strategies, and banking on the future – no matter what it holds. This is where Cadence Bank’s In Good Companies comes in. We share our wealth of knowledge, and insights from noted industry experts, to guide you through the forces shaping business today.

We’re back for Season 6, and this time, we’re setting our sights on the future of work. We’re asking the big questions, like:

What will your career look like in 2030? Or 2050, even?
How is ESG shaping the future of companies?
And how can we leverage AI to our advantage?

We bring together experts from across the board, from Silicon Valley to multinationals like EY, to help you stay on the cutting edge of business. And we get to know those who are building the future of our companies; because at Cadence Bank, we want to hear the human side of every success story.

Hosting our stellar range of guests this season is our new host, Ari Marin. He is a Cadence Bank Senior Vice President and family enterprise advisor, whose specialty is consulting with family-owned and small businesses. Ari’s idea of “good company” is being around creative, insightful people with unique and inspirational stories. For Season 6, he brings in his curiosity and ambition to In Good Companies, to lead discussions with our guests, and bring listeners across the U.S. all the information they need, in one place, in under 30 minutes.

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