The Difference Between Value and Legacy
About this episode
This episode explores the difference between financial value and emotional significance of assets in family planning.
An appraisal can tell a family what an asset is worth, but it cannot tell them what that asset means. Episode 24 explores the difference between financial value and emotional, cultural, and generational significance when planning for businesses, properties, collections, and other unique assets. This episode examines why families need to understand both the economics and the meaning of an asset before deciding whether it should be preserved, sold, divided, donated, or allowed to evolve across generations. Website: erskineanderskine.com LinkedIn: linkedin.com/in/erskineco Facebook: facebook.com/erskinecompany Instagram: instagram.com/uniqueestateplans
More episodes of Strategic Succession: Bridging Governance and Legacy
- When Heirs Inherit Assets They Don’t Understand
- Planning for Collections Before There Is a Crisis
- Why Beneficiary Designations Can Override the Plan
- The Tax Exposure Hidden Inside Nontraditional Assets
- The Future of Strategic Estate Planning
- Protecting Value Before the Transfer Happens
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