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The webcast introduces the concept of the core-satellite approach to estate planning, which combines a core model (trusts to protect assets) with a satellite model (individual autonomy), aiming to balance flexibility with asset protection.


Pat Soldano, president of Family Enterprise USA, introduces Brian Bissell and Caleb Silsby from Whittier Trust, a wealth management firm.

Core and Satellite Approach to Estate Planning: This approach aims to balance the need for asset protection and wealth growth with the desire to provide autonomy for future generations.

Core Assets: These are family assets placed in a trust to be held for multiple generations. They are managed conservatively to minimize risk and maximize long-term growth.

Satellite Assets: These are individual accounts for family members, allowing them to pursue entrepreneurial ventures or invest according to their risk tolerance.

Benefits of the Core-Satellite Approach: It promotes family harmony by protecting core assets while allowing individual pursuits. It avoids the pitfalls of either concentrating everything in a core trust or distributing everything outright.

Structuring the Core-Satellite Approach: The details of the plan, including distribution rules and frequency, should be carefully considered to address potential conflicts and ensure fairness across generations.

Implementation and Considerations: Practical considerations, such as rules within the LLC regarding distributions and anticipating potential challenges, are highlighted. The importance of clear planning and flexibility in structuring the approach is emphasized. Overall, the interview stresses the importance of finding a balance between asset protection and individual autonomy in estate planning, advocating for the core satellite approach as a viable solution.

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