A major liquidity event can intensify a client's need for clarity and guidance. That was true for an Abbot Downing client who sold a family business for $150 million.
Abbot Downing helped the family determine that a carefully managed $50 million was enough to support the senior generation's lifestyle. With guidance from our multi-generational planning professionals, the older generation allocated an additional $25 million to buying and maintaining vacation properties, for both pleasure and investment.
The family used $10 million to establish and fund a new family foundation and began transferring the remaining wealth to subsequent generations in tax-advantaged ways.
These materials are provided for general education and illustration purposes only. They were prepared by Abbot Downing and have been obtained or derived from information we consider reliable, but we cannot guarantee their accuracy or completeness. Abbot Downing does not undertake to advise you of any change in the information contained in these materials.
Wells Fargo & Company and its affiliates do not provide legal advice. Please consult your legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of you own situation at the time your taxes are prepared.