Our Role
We have the ability to adjust our role in the process in order to meet your needs.JR Katz can play a variety of roles in the wealth transfer process. We can simply act as the client's buyer in the life insurance marketplace, foster a comprehensive understanding of our client's estate plans, act as an information nexus, coordinate the activities of a variety of advisors, or bring planning ideas and concepts to the table.
- Do you feel that you have the correct professional advisors in place to develop your estate plan?
- What degree of coordination have you accomplished between your advisors?
The Long View
Our experience can enhance your long-term perspective and help clarify important objectives.Our perspective is shaped by virtue of the transactions we implement. Life insurance products are typically the longest of long-term financial vehicles, giving us a unique time horizon that spans two or even three generations. That perspective helps differentiate between minor details and key values, and focuses the planning process on your philosophy of life.
- How will your wealth impact your family's values?
- How can you give your heirs the gift of financial independence while still preserving their ambition and motivation?
Family Owned Business
Assessing the options offered by a family-owned business requires evaluating both the economic reality and your emotional considerations.Your JR Katz advisor understands that the vital role a family-owned business plays in wealth transfer planning needs to be defined in the larger philosophical context. We can help you determine whether it should function as the center of the family for future generations, or whether it should be monetized and serve as a concentration of capital facilitating other goals.
- Does maintaining the business in the family entail too much risk?
- Is there a time horizon for monetizing the business?
- If the business is to be maintained, is it also your goal to treat all your heirs equally? What does that mean?
Business Continuity
Keeping a business operating while transferring ownership is a daunting challenge because of the different interests that must be addressed.Passing a business to another generation can be one of the most difficult yet rewarding challenges in wealth transfer planning. It can require addressing estate liquidity, parental favoritism, business acumen and executive retention. JR Katz can help. Our vast experience has shown that, although the immediate liquidity provided by life insurance can be a useful tool in mitigating these issues, it is not a substitute for coordinated planning.
- What are the greatest barriers to providing a smooth transition of the business to the next generation?
- Do you plan on different timelines for transferring management and ownership?
Transferring the Family Business (pdf)
Issues and considerations surrounding a vital asset
Estate Plannings' Latest Gadget (pdf)
How valuable are restrictive trust provisons?
Responding to September 11, 2001 (pdf)
Our reaction to the uncertainty caused by the attacks