Sponsored by Parametric
Elon Musk's life is fertile ground for any discussion about wealth and estate planning. He's the wealthiest man alive, is not married, has six children, is involved with multiple business ventures, discusses his beliefs around taxes and philanthropy publicly, and more.
In this episode, David Lenok is joined by John Pantekidis of TwinFocus Capital to highlight what clients can learn from Musk's story when it comes to transferring wealth strategically to take care of family members and children, as well as the creative use of family foundations to make tax-efficient charitable donations that reflect their areas of interests.
John also addresses how clients can avoid the pitfalls of keeping your wealth in illiquid assets and familial drama through premarital agreements and including the children in charity foundations.
- Why premarital agreements should be standard operating procedure;
- How asset type can restrict donation amounts;
- The role philanthropy can play in bringing families together across generations; and
- What clients can do to increase charitable giving and pass money on to the next generation.