When someone is in the position to receive sudden large and sometimes unexpected distribution of assets, they can face unique challenges. Plott and French can help you to manage these issues.
Business Owners and Entrepreneurs
Business owners, who have invested a large part of their lives into growing a successful business, face a unique set of challenges. In many cases, the issues faced go well beyond money and into personal questions such as will your employees who helped you achieve your success be cared for and will your successors be able to continue the legacy which you have started.
When you are ready to begin considering your exit plan, it may be time to consult with a financial advisor. Working with your other professional advisors and drawing upon our own network as needed, we can help alleviate the stress encountered and offer innovative solutions for the different ways of handling your event in a tax-efficient manner so you can focus on the next new exciting stage in your life.
Inheritances
We encourage any person leaving behind a substantial estate, especially to younger generations, to have discussions with their beneficiaries well ahead of time to establish prudent money management skills to responsibly accept such assets. We can provide materials to help facilitate this sometimes awkward but necessary discussion or even be a direct part of the conversation if you desire.
Many times, however, wealth may come to someone unprepared and unexpectedly. When this happens, the sudden change and responsibility can be daunting. We will help you understand the different assets and investments so you can make educated decisions on how to protect your new assets and manage them responsibly.