{"id":641,"date":"2020-04-08T20:01:40","date_gmt":"2020-04-08T20:01:40","guid":{"rendered":"https:\/\/vokseit.com\/familywealth\/?page_id=641"},"modified":"2020-05-01T18:50:00","modified_gmt":"2020-05-01T18:50:00","slug":"financial-seasons","status":"publish","type":"page","link":"https:\/\/familywealthllc.com\/financial-seasons\/","title":{"rendered":"Financial Seasons"},"content":{"rendered":"
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The Wealth Building Season<\/em><\/strong> is when a person is working, earning income from this work, spending money for a lifestyle and saving money for the future. Money is consumed for the lifestyle they want and money is set aside for future goals and wants.<\/p>\n Your financial objectives in this season are to:<\/p>\n <\/p>\n The Wealth Distribution Season<\/em><\/strong> is when a person is retired, not earning or earning lower income, and is seeking to have sufficient income from the accumulated assets built up from the previous season. This season is very different and the money accumulated for it has different purposes then when a person was earning income.<\/p>\n Your financial objectives in this season are to:<\/p>\n <\/p>\n The Wealth Transfer Season<\/em><\/strong> is when a person dies or when they decide to give their money away while they are still alive. When they pass away, they will leave their money to someone or to the government.<\/p>\n This season is, by far, the hardest and most complicated of the three seasons. It is not easy to leave wealth to family or to others we choose without considerable losses due to a lack of or poor planning. The tax laws and probate rules are very unfriendly when a person dies. Taxes on assets and income are imposed, legal fees and accounting fees are incurred, forced sales of assets occur, debts become due on demand, and more.\u00a0 Confiscation of an entire lifetime of building wealth can happen and heirs can be forced to endure distress and frustration in this transfer process.<\/p>\n Your financial objectives in this season are to:<\/p>\n\n
\nWealth Distribution Season<\/h3>\n
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\nWealth Transfer Season<\/h3>\n
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