2013 cpa workshopcorprotect.com/documents/empoweredwealthppp.pdf · we live in a world of abundance...

© 2012 Empowered Wealth LLC.

2013 CPA WORKSHOP

June 24, 2013 Grand America Hotel Salt Lake City, Utah

Sponsored by corprotect

Family Leadership- the New Estate Planning

© 2013 Empowered Wealth LC.

Gas Prices

Mid-East Violence

Corporate Fraud

Housing Bubble

War on Terror

Weak U.S. Dollar

Social Security

Federal Deficit

The New Economy

Personal Debt

Stagnant Market

China Emerges

www.time.com

Time Magazine 1970-1980


Presenter

Presentation Notes

Check-out other Time Covers of the 70s and 80s. Once again, could these Headlines appear on the covers of Time today? Scary right? Comment on few.

Go BIG! Begin In Gratitude-


We Live in a World of Abundance

Abundance is not something we acquire, it is something we tune into.” …Wayne Dyer

Progress the last 100 years:


Cost of Food ↓10% Cost of Electricity ↓20%

Cost of Transportation ↓100%

Cost of Communication ↓1000%

Source: Abundance: The Future Is Better Than You Think by Peter Diamandis

Progress the last 100 years:


Average Human Life Span ↑2X Average per-capita income ↑3X Childhood Mortality ↓10X


Poverty Redefined In U.S. the number of people under poverty line:


99% have electricity, water, toilet, refrigerator 95% have television

88% have cell phones

70% have a car and air conditioning Source: Matt Ridley of The Rational Optimist, www.rationaloptimist.com

http://www.rationaloptimist.com/

The Earth is running out of water!!

Earth is 70% water

97% of water is salt water

80% of non-salt water is ice

That leaves .5% of all water usable

The SlingShot will process 1,000 liters of water/day @ 2 cents/liter


Energy: We are running out of energy sources!

16 terawatts of energy hit the earth every 88 seconds! Cost of solar energy is now 50% of the cost of diesel.


Moore’s Law: Moore's Law suggests the transistor density of an integrated circuit doubles approximately every 24 months.


New Technologies: Cloud Computing

Sensors & Networks

Robotics

3D Printing

Synthetic Biology

Digital Medicine

Nanomaterials

Artificial Intelligence



Twenty-six years from now….

8,192 times more capability!!

Algorithms and Their Effect on the Future


Connectivity: 2 Billion people are connected to the internet.

By 2020 Five Billion people connected to the Internet



The Connection Economy the industrial economy will not survive scarcity and abundance have been flipped

we have too many good choices--there's an abundance of things to buy and people to hire.

high-quality work is no longer scarce competence is no longer scarce, either … Seth Godin, The Icarus Deception



12,000,000 businesses owned by baby boomers in the United States

70%+ are expected to change hands in the next 10 to 15 years.

Source: Robert Avery of Cornell University

a “Blue Man” company

a “Siegfried and Roy” company

“The Mirage suffered financially, not just from the loss of $50+ million in annual ticket sales, but from having to forgo untold millions in sales of food, beverages, hotel rooms and the casino's gambling winnings.” … Las Vegas Advisor


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Presentation Notes

According to the Las Vegas Advisor, The Mirage suffered financially, not just from the loss of $50+ million in annual ticket sales, but from having to forgo untold millions in sales of food, beverages, hotel rooms and the casino's gambling winnings. An MGM Mirage spokesman said losing Siegfried & Roy is a bigger hit to the Mirage brand than to its finances, because the entertainers are "practically the faces" of the hotel, and finding a new hotel brand or identity will be difficult.

“An MGM Mirage spokesman said losing Siegfried & Roy is a bigger hit to the Mirage brand than to its finances, because the entertainers are "practically the faces" of the hotel, and finding a new hotel brand or identity will be difficult.”

… Las Vegas Advisor


The Three Greatest Fears facing affluent families:

1. Loss of Choice and Control…

They want the freedom to make decisions about those things that matter most:

• Business/Investment Opportunities • Personal Growth • Leisure and Passions



2. Wealth Becomes a Negative Influence…

Children and heirs have no motivation No passion No abilities to be productive Subject to “Affluenza”


3. No Empowering Legacy… Their work will end when they do. No system to capture life’s experiences for

future generations. Won’t be remembered. Too busy to focus on what matters most.



Are these fears justified?



Shirt Sleeves to Shirt Sleeves in 3 Generations

Nearly 70% of all family firms fail before reaching the 2nd generation; 88% fail before the 3rd generation; only a little more than 3% survive to the 4th generation and beyond. …. The Family Firm Institute, Brookline, Massachusetts.


The 3rd Generation—the “Brittle” Generation


“It has left me with nothing to hope for, with nothing definite to seek or strive for. Inherited wealth is a real handicap to happiness.” - William K. Vanderbilt, grandson of Cornelius Vanderbilt

The Vanderbilts:


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Presentation Notes

I believe this quote from the grandson of Commodore Vanderbilt speaks volumes.

Traditional Estate Planning has Become a Game of:

Divide,

Defer,

Dump,

Dissipate…


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Presentation Notes

Versus the three P’s Preserve Protect Perpetuate Actually, you can add a fourth “D”…..dissipate.

“It requires a great deal of boldness and a great deal of caution to make a great fortune;

and when you have got it, it requires ten times as much wit to keep it.”

The Rothschilds:


- Nathan Rothschild

Presenter

Presentation Notes

It does require effort and "wit" to keep true wealth. You would think that with some of the smartest minds that have ever lived, finding financial solutions to preserve wealth would be a piece of cake.


They are shifting the way they think about wealth.

The Shift

Copyright Empowered Wealth, LC 2005-2006


Financial

THINGS - your financial and material possessions

Well-being Friends Heritage Character Unique Ability Talents

Core Experience

Systems Ideas Traditions Alliances Skills Networks

•Cash •Real Estate •Stocks, Bonds

We Optimize Family & Business Wealth

•Health •Values (Virtues)

•Education •Experiences •Reputation

Contribution Taxes

Charitable Contributions of Core, Experience and Financial Assets through your Family Foundation

THE Family Empowered Treasury™

THE Empowered Wealth

System™

Re-direct

•Family

•Business


© 2010-2013 Empowered Wealth LC.

We optimize Family Wealth “True” Wealth

Presenter

Presentation Notes

The four appendages… you are always using all four …. Hippy.family leadership Living legacy easy to tie with wacky Set stage for disruption and change Family culture will sustain family through disruption and change in the future. There is a lot of wisdom in the elders… many in this room that is being wasted on tactical issues that will come and go whether it is estate taxes, etc. whatever is the next iteration of clever ideas. Ultimately – how do the advisors (you) thrive.

“All successful multi-generational family businesses ultimately transition into a business family.” …Philippe de Gaspé Beaubien, founder The Business Families Foundation.

The Tipping Point


Presenter

Presentation Notes

It does require effort and "wit" to keep true wealth. You would think that with some of the smartest minds that have ever lived, finding financial solutions to preserve wealth would be a piece of cake.

The Three Keys of Empowering Intergenerational True Wealth Transfer:

1. A Family True Wealth Philosophy (the Why) Empowered families have a Unifying Vision of who they are; where they are; and where they are going.


2. A Powerful Plan (the What) Empowered families have a Family Leadership Plan that is flexible, empowering and efficient.

3. A Business Family Coach (the How) Empowered families have an experienced coach to bring fresh ideas, motivate and help avoid pitfalls.

Family Leadership- the New Estate Planning


we empower families


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Presentation Notes

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When the business is sold and your client walks out the door… What’s the “next step”?


We protect and empower families that own businesses utilizing concepts and tools that take them to a successful “next step”.

the Smart-Policy Advantage™

We Optimize Business and Personal Life Insurance Products through

Wisdom, Objectivity and Transparency


$ 3 Trillion in Neglected Life Insurance Cash Values - Liability or Opportunity For You?

• Few know what they are being charged or what they are earning

• Largest pool of wealth that’s been neglected by the financial services industry

• Increasing regulatory requirements & fiduciary litigation, these assets can no longer be ignored

www.policylogix.com

Your Clients’ Opportunity with the Smart-Policy Advantage™

A single resource for independent,

objective, and transparent life insurance review.

www.policylogix.com

the Smart-Policy Audit™


Client Benefits: • Average savings 40% • Average increase in benefits 40% • Loose ends tied down • Audit confirms they have a great plan • They are HAPPY no matter what



Advisor Benefits: • Strengthens relationship with clients • Potential dollars directly to EBITDA • Increases value of company

Business & Life Insurance

• Buy/Sell Agreements • Key Employee • Disability • Business Valuation • Business Succession • Retirement Funding • Executive Bonus • Business Overhead • Captive Insurance

$3 Trillion Dollar Problem?

• No! It’s a $3 Trillion Opportunity! • Strengthen your competitive advantage -

www.policylogix.com

Presenter

Presentation Notes

Partner with an expert who has the unique skills to accurately manage, investigate, evaluate, design and monitor complex life insurance portfolios


Providing greater business opportunities and protection for you, and greater value for your clients…


We empower families.


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Presentation Notes

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We help family businesses reach higher levels of empowerment through our 4 step PowerFul Planning Process.

2013 cpa workshopcorprotect.com/documents/empoweredwealthppp.pdf · we live in a world of abundance...

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