Difficulties in Transitioning Wealth to the Next Generation Lisa L. Coggins, Esq. The old adage ‘More money, more problems’ has often proven to be more than just a quaint saying, particularly for high net-worth families amidst the transitioning of wealth to the next generation. Take for instance the struggles of Shari Redstone, daughter to media magnate Sumner Redstone. A controlling interest – 80 percent – of her family’s fortune in […]
The Elderly, Consumer Debt, & Financial Abuse (August 2016) By: Michael B. Joseph, Esquire Senior citizens, those 65 years old and older are increasingly burdened by alarming levels of consumer debt. Retirement and fixed income is insufficient to sustain the monthly expenses for many older adults. Some are unable to pay ongoing regular monthly expenses, costs of health care, and make payments on mortgages, auto loans, and credit cards. […]
Estate Planning for Baby Boomers and their Families David J. Ferry, Jr., Esq. Ferry Joseph, P.A. As the first entrants of the Baby Boomer generation, those born between 1946 and 1964, hit 70-years-of-age this year, estate planning decisions have become a hot topic of discussion not only for Boomers, but for their families as well. In particular, many members of this generation have shown an increased desire to ensure that […]
The Rise of the Sharing Economy Brian J. Ferry, Esq. Ferry Joseph, P.A. With just a few clicks on a smartphone, we are now able to summon a driver to the front door, find our loveable pup a pet-sitter, and secure housing for our next sojourn out of town, without having to so much as pause the Netflix show in the meantime. Whereas this may have once sounded like a […]
47% of American Adults Living Paycheck to Paycheck James Gaspero, Jr., Esq. Ferry Joseph, P.A. According to a recent survey from the Federal Reserve Board, 47% of American adults said that they could not cover an emergency expense of $400 without having to sell a personal possession or borrow money. Though there have been multiple indicators evidencing this reality amongst a large swath of the population, it is still no […]
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