I have a client named Ruth. Her daughter Helen, called me recently. Ruth is staying out of state at Helen’s house with Helen for a couple of months while Ruth recovers from a medical issue. Ruth’s house here in Florida is empty. *All names are fictional.

Drama has ensued because Bubba, Ruth’s son and Helen’s brother, keeps entering Ruth’s house without permission. The neighbors call Helen every time they see Bubba at the house. Bubba is not living in the house and so far hasn’t damaged the house. He hangs out for a couple of hours and then leaves.

Helen is furious because Bubba has a criminal record, is on probation, and has skanky, drug-abusing friends. Helen is convinced that Bubba is going to burn the house down. What can Helen do to keep Bubba out of the house?

I explained to Helen that if Bubba truly is entering without Ruth’s permission then Bubba could be breaking the Florida 810.02 which defines the offense of “trespass in structure or conveyance” as entering or remaining in a building, structure, or conveyance without permission, license, or invitation from the owner or authorized occupant.

A “structure” refers to any building, enclosed area with a roof over it, or any other building or improvement designed for use or occupancy, including a dwelling, commercial building, storage facility, or public building. A “conveyance” refers to any motor vehicle, aircraft, vessel, or other vehicle used for transportation.

The severity of the offense depends on the circumstances of the trespass. For example, if Bubba was armed with a firearm, committed a battery, or caused damage to the property, the offense is classified as a felony of the third degree. If Bubba entered Ruth’s house without permission and did not commit any other crimes, the offense is classified as a misdemeanor of the second degree, punishable by up to 60 days in jail and a fine of up to $500.

But Bubba is on probation, and he is required to follow certain conditions as set forth by the court., Specifically, Florida Statute 948.06 states that a probationer must “obey all laws, ordinances, and rules of the United States, the state, and any municipality or county thereof.” If Bubba gets arrested for trespass, it could result in a violation of his probation. Probation violations are taken seriously in Florida. Bubba’s trespass into Ruth’s house could lead to the imposition of additional probation conditions, extended probation, or even incarceration.

I asked Helen to first make sure that Ruth didn’t give Bubba a key or permission to enter the house. You know parents – they often have one screw-up child to whom they just can’t say no. Helen is sick and tired of Bubba, but Ruth may not be.

Second, if Bubba really is entering without permission from Ruth, I asked Helen to figure out how much heartache can Ruth handle if Bubba goes back to jail because Helen snitched on Bubba and got him arrested for trespassing?

Families bring drama. Know your boundaries.

Attorney Merrell Bailey details the steps for cleaning up a hot mess with the IRS and making your Offer in Compromise (OIC).

An OIC may be accepted if the IRS determines that the debt cannot be paid or would create a financial hardship.

  1. First, you will need to determine if you are eligible to make an OIC.
  2. Determine your reasonable collection potential to determine a minimum amount to offer.
  3. Prepare your offer in compromise using Form 656.
  4. Submit the form and your fee.
  5. Wait while the IRS reviews your offer.
  6. Negotiate if necessary.
  7. Pay the agreed upon amount, on time, or risk defaulting on the agreement.

*Attorney Bailey does not do this type of legal work, though she will happily refer it out to get our clients the best result.

Attorney Merrell Bailey discusses the process of changing the cause of death on a death certificate.

What happens when the cause of death on a death certificate is wrong?

The cause of death can be changed in Florida depends on the facts and the timing of the request.

  1. Determine the reason for the change. Provide evidence that supports your claim that the cause is incorrect.
  2. If filed within the last year, you need to complete a form called the “Statement to Amend a Florida Death Record.” Submit the form to the Bureau of Vital Statistics.

    If it’s been more than a year, you may need the help of an attorney. The Court Order to Amend the Record will need to be obtained.
  3. Hang in there. This is not a quick process, and it may take many weeks. It can be done, though.

What kind of corporation do you want to set up?

You’ll want to choose what type of entity you want to set up under state law and what kind of taxation you want to choose under Federal law.

You’ll need articles of incorporation, bylaws, organizational minutes, stock certificates, business licenses and permits (if required), and an employer identification number (EIN) assigned by the IRS, and annual reports.

Make sure that these items are set up correctly. Otherwise your asset protection measures may be limited.

Let’s discuss the gift tax rules for the United States in 2023:

Lifetime Exemption: You can gift $12.92 million (up from $12.06) over the course of your lifetime without incurring any gift tax. As a married couple, you can combine this amount for $25.84 million gifted before tax.

 

Gift Tax Rate: Any gift made in excess of your lifetime exemption will be subject to a 40% tax. In other words, if you are unmarried, the $12,920,000 and first dollar gifted will be subject to 40 cents tax.

More fun? There are additional gifts that are excluded from your lifetime exclusion.

Gift Tax annual exclusion: You can gift up to $17,000 a year (up from $16,000) to any number of individuals without eating into your $12.93 million lifetime exemption. If you are married, you and your spouse can combine to gift up to $34,000 per person, per year. This is in addition to your lifetime exclusion.

Even more fun? There are additional gifts that are excluded from both your lifetime exclusion and your annual exclusion.

Gifts to a Spouse: You can make unlimited tax-free gifts to your US citizen spouse.

Gifts to Charities: You can make unlimited tax-free gifts to qualified charitable organizations.

Gifts for Medical Expenses: You can make unlimited tax-free gifts for someone else’s medical expenses paid directly to the provider.

Gifts for Educational Expenses: You can make unlimited tax-free gifts for someone else’s tuition expenses paid directly to the educational institution. Not lab fees. Not housing. Not books or computers or athletic fees charged by the educational institution – only tuition is the freebie.

Here is an example to maximize your gifting each year.

Let’s assume your son Boo is the father of your darling granddaughter, Gracie. First, pay Gracie’s health insurance premium directly to the provider. Second, pay all other of Gracie’s medical costs by giving Boo a credit card that you pay, with which Boo can charge Gracie’s other medical expenses. Third, pay Gracie’s tuition directly to Gracie’s school. Finally, write Gracie a check for $17,000 and let Gracie pay for her books and athletic fees and lab costs.

You would be delighted to know of the many, many techniques I have available to leverage your gifting if you have a taxable estate. It is magic.

 

How do you ‘import’ a common law marriage from one state to the next? What do you have to show to prove you were married by common law? Krystal and Merrell discuss all of this, and the argument for just getting married.

Show Notes:

Let’s start by defining common law marriage –  A common law marriage is a legally recognized marriage between two people who have not purchased a marriage license or had their marriage solemnized by a ceremony. Not all states have statutes addressing common law marriage. In some states case law and public policy determine validity.

We have heard the stories and have clients ask us, if I live with my partner/significant other for 6 months or some other period of time, are we common law married?  The answer is not so simple.

States that statutorily recognize common law marriage: Colorado, Iowa, Kansas, Montana, New Hampshire, South Carolina, Texas and Utah, and the District of Columbia. Without getting into the particulars of the laws surrounding common law marriage in each state, it is worthwhile to note that each state’s statutes are different and you should consult legal counsel in your particular state to get more information.

Several states recognize common law marriage through case law as well, including Rhode Island and Oklahoma, as well as the District of Columbia.

There are also several states that used to allow common law marriage:  Pennsylvania, Ohio, Indiana, Georgia, Idaho, Oklahoma, Florida, and Alabama.  Each of these states has a statute that identifies the date on which common law marriages are no longer recognized.  For example, Florida’s law states that no common law marriage may be entered into after January 1, 1968, and Alabama’s is January 1, 2017.

There is no hard and fast rule or rules that “prove” common law marriage.  There are many factors that Courts look at when making a determination, including:

  • You must live together (the amount of time varies by state)
  • You must have the legal right, and the capacity, to be married (age, sound mind, not married to someone else, etc.)
  • You must consent/be in agreement that you are “married”
  • You must have a reputation in the community that you are married – holding yourself out to family and friends as a married couple, referring to each other and introducing each other as spouse/husband/wife, hold joint accounts and credit cards
  • Filing joint tax returns
  • Holding bank accounts jointly
  • Holding real property jointly
  • Having and raising children together
  • Sharing a common surname
  • Identifying a party as a spouse on insurance or benefit forms
  • Wearing rings

Ultimately, it is a judge that will make the determination, based upon the evidence presented.

How does common law marriage affect estate plans and trust/estate administration?

 Estate planning is especially important for couples in common law marriages because this type of marriage is unusual and may be not acknowledged when it matters most — like during a health crisis or after an unexpected death. In a health care crisis, if a marriage is not recognized, a common law spouse may not get to make critical health care or financial decisions for their partner.  They may not have access cash or property needed to pay necessary bills such as a mortgage or rent.

In the event of the death of a partner, the surviving party may have to fight to receive their partner’s property. And if you live in a state that doesn’t recognize common law marriage, then even if you live together in a relationship for 50 years and consider yourselves married, the surviving partner will not receive any portion of the deceased party’s estate unless they have an estate plan in place.

On the other hand, if you do not want your relationship to be deemed a common law marriage at your death, it is important to make that acknowledgment in your estate planning documents to prevent another party from claiming a common law marriage and request a spousal share of your estate.

If you are in, or have clients in a committed, long-term relationship who have not officially married or obtained a marriage license, have the conversations with them about incapacity and death planning.  Help them through the process of how they want to define their relationship and prepare the property documents to make their decision clear.

If you or your clients have recently liquidated assets, and you’re wondering about FDIC insurance, you’re not alone. Krystal and Merrell break down everything you need to know about deposits, what is and isn’t covered, and how the $250,000 limit is applied to multiple account owners and beneficiaries.

Timestamps

:45 Why are our clients asking about FDIC insurance when they haven’t in years?

1:57 The Federal Deposit Insurance Corporation: What are the rules? What ownership categories and accounts are covered? (This applies to bank accounts, not credit unions.)

3:25 Stock accounts are not covered under FDIC insurance, neither are bond investments, mutual funds, life insurance policies, annuities, safe deposit boxes…if it’s considered an investment, it’s not covered.

4:00 Keep in mind checking accounts at brokerages (not a bank) are not covered by FDIC insurance.

4:40 What about non-citizens and non-human entities? Yes. $250,000 per depositor, per insured bank, per each account.

5:08 This is where it gets interesting. What are the account types? Single accounts (and why Krystal and Merrell advise their clients not to have single accounts without a payable on death designation)

6:30 Brief discussion about retirement accounts at FDIC insured banks

7:22 Joint accounts, owned by two or more people. Must be humans, not entities. Co-owners must have equal rights to withdraw.

8:11 Krystal and Merrell discuss how single accounts with a signer are problematic, and why the durable power of attorney is preferable. Banks tend to push joint ownership, and then if the signer (adult child for example) is sued, the account is in jeopardy. It can also complicate estate planning.

9:51 Revocable Living Trust accounts and FDIC insurance, calculating coverage limits among beneficiaries. Using a $750,000 account example, the grantor is not covered, but each beneficiary is covered up to $250,000.

11:52 What if the beneficiaries have an account at that same bank? What if the beneficiaries don’t know they are beneficiaries? Or the grantor doesn’t know where they bank? Only $250,000 is covered.

13:15 Reminding your clients that if they are all in one bank, they may not be fully covered under FDIC insurance.

14:20 When is this really a concern? With smaller banks rather than well-established national banks? Maybe not.

16:06 FDIC resources include a pamphlet and online estimator to give you an idea of what is being protected and what isn’t.

Resources

FDIC 2020 PDF

FDIC Insurance Coverage Calculator

How will the Biden Administration’s Proposed Tax Plan affect me?

Merrell and Krystal discuss the proposed tax plan under the Biden administration and the importance of getting the information out to clients.

Most proposed changes affect those individuals with taxable income rates over $400,000. There are also substantial changes for investors and corporations, and changes to the gift and estate tax codes. Among other tax credit changes, Biden’s first time homebuyers’ credit would provide up to $15,000.

Timestamps

:45 – We know our clients want to know if their estate plans will need revision

1:10 – The proposed changes affect individual income tax rates, corporate income tax rates, federal estate taxes and lifetime gifting limits. Most changes affect those with taxable income over $400,000

1:49 – The donut hole in the Social Security payroll tax

2:55 – Top taxable income rate changes from 37% to 39.6% (applies to income over $400,000)

3:35 – What about itemized deductions?

4:06 – Long term capital gains changes are a BIG change to investors

4:33 – Qualified business income deductions (Section 199A) will be phased out

4:47 – Real estate opportunity zones and capital gains exemptions

5:43 – Tax benefits for renewable energy and expiring solar energy credit

6:38 – Corporate income tax rate increases from 21% to 28%

6:55 – Estate tax and gift tax changes. One proposal involves restoring them to the 2009 level

8:54 – Additionally, the step-up in basis could be eliminated. This is problematic for a number of reasons

10:21 – Implications of losing step-up in basis when it comes to inheriting property

13:27 – Because Congress will make the rules, we probably don’t want to make changes until we see what happens

14:10 – Merrell pleads with Biden to 1) not to make anything retroactive 2) or make the gift tax exemption and the estate tax exemption bifurcated and 3) take away the step-up in basis

15:00 – Krystal discusses strategic gifting for clients with a large combined net worth before the end of the year

16:56 – Additional changes include expanding the Earned Income Tax Credit, Child Dependent Care Tax Credit, and re-establishing the First Time Homebuyers’ Tax Credit.

17:35 – Brief discussion of the current housing market

Tax Bosses’ detailed notes:

Most of the proposed income tax changes affect those individuals with taxable income over $400,000 and include:
  • Imposing a 12.4 percent Social Security payroll tax on income earned above $400,000, evenly split between employers and employees. This would create a “donut hole” in the current Social Security payroll tax, where wages between $137,700, the current wage cap, and $400,000 are not taxed.
  • Reverting the top individual income tax rate for taxable incomes above $400,000 from 37 percent under current law to the pre-Tax Cuts and Jobs Act level of 39.6 percent.
  • Capping the tax benefit of itemized deductions to 28 percent of value for those earning more than $400,000, which means that taxpayers earning above that income threshold with tax rates higher than 28 percent would face limited itemized deductions.
  • Imposing a limitation on itemized deductions for taxable incomes above $400,000.
  • Phasing out the qualified business income deduction (Section 199A) for filers with taxable income above $400,000.
  • Taxes long-term capital gains and qualified dividends at the ordinary income tax rate of 39.6 percent on income above $1 million
Proposed corporate income tax changes include:
  • Increasing the corporate income tax rate from 21 percent to 28 percent.
  • Creating a minimum tax on corporations with book profits of $100 million or higher. The minimum tax is structured as an alternative minimum tax—corporations will pay the greater of their regular corporate income tax or the 15 percent minimum tax while still allowing for net operating loss (NOL) and foreign tax credits.
  • Expands the New Markets Tax Credit and makes it permanent. The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs). The credit totals 39 percent of the original investment amount and is claimed over a period of seven years.
  • Offers tax credits to small business for adopting workplace retirement savings plans.
  • Expands several renewable-energy-related tax credits, including tax credits for carbon capture, use, and storage as well as credits for residential energy efficiency, and a restoration of the Energy Investment Tax Credit (ITC) and the Electric Vehicle Tax Credit. The Biden plan would also end tax subsidies for fossil fuels.
Proposed federal estate and gift tax changes include:
  • Restoring the federal estate and gift tax rates and exemption to the 2009 level. In 2009, the federal estate tax exemption amount was $3.5 million and the lifetime gift exemption was $1 million. The maximum tax rate was 45%.  There is also talk that the exemption amount might be in the $3.5 – $6 million range, but even on the highest end, that is ½ of what we currently have.  And the lifetime gifting may no longer be tied to the federal estate tax exemption.
  • Eliminating step-up in basis at death for capital gains taxation.
Some additional proposals that may be of interest to advisors and our clients include:
Expanding the Earned Income Tax Credit (EITC) for childless workers aged 65+; provides renewable-energy-related tax credits to individuals.
Expanding the Child and Dependent Care Tax Credit (CDCTC) from a maximum of $3,000 in qualified expenses to $8,000 ($16,000 for multiple dependents) and increases the maximum reimbursement rate from 35 percent to 50 percent.
For 2021 and as long as economic conditions require, increases the Child Tax Credit (CTC) from a maximum value of $2,000 to $3,000 for children 17 or younger, while providing a $600 bonus credit for children under 6. The CTC would also be made fully refundable, removing the $2,500 reimbursement threshold and 15 percent phase-in rate.
Reestablishing the First-Time Homebuyers’ Tax Credit, which was originally created during the Great Recession to help the housing market. Biden’s homebuyers’ credit would provide up to $15,000 for first-time homebuyers.

Details and Analysis from the Tax Foundation

Summary of Changes from the Wall Street Journal

Higher Taxes on Corporations and the Wealthy

Can you pay an employee their salary and a consulting fee?

Advisors, have you had a client ask you if the technique of paying consulting fees is better than paying payroll or gift tax? Krystal and Merrell discuss what is legal and tax efficient, using the following example.

The New York Times matched a consultant payment of $747,622 deducted by President Trump to an income item on Ivanka Trump’s disclosure forum. The payments allegedly were for consulting work on projects that Ivanka already was being paid for as an employee.

Timestamps

:45 – Family owned businesses have recently asked if they can pay family members on the payroll as executives, and also pay the same family members a consulting fee for the same project.

1:12 – Families very often are looking for ways to transfer wealth from one generation to the next. Only a couple of ways to do this. You can pay a family member compensation which is subject to income taxes and payroll taxes but may be deductible as a business expense, or you can gift money to a family member, subject to gift tax.

1:50 – Krystal discusses her experience with families wishing to pay salary and gift but not layer salary and consulting fees.

2:19 – Merrell reviews President Trump and the fees to Ivanka.

3:30 – Using a $1m salary example, we look at deductions, payroll taxes, the child’s income taxes and payroll taxes. Is it less than the gift tax if they’d have made a gift of a $1m? It depends on whether or not it’s a taxable estate.

6:10 – What if the estate tax rate goes down under President Biden?

7:15 – Krystal and Merrell examine the business deductions assuming an example of an unreasonable payment (in excess of $1m). Breaking compensation into different categories doesn’t help.

8:50 – It’s about sitting down with clients and helping them work through the math. What is legal, and what is the most tax-efficient way to transfer wealth?

9:20 – It takes a village. We, the CPAs, the estate tax attorneys, the business tax attorneys, the financial advisors – we need to work together to do the math to get the best result for our clients. Each of us has a piece of the puzzle, and when we put the pieces together, it is so much better for our clients.

Resources

NYT Trump tax records

CNN Ivanka Trump’s categorization as a consultant

Is your consultant really your employee?

Florida Payroll Tax Calculator

Net Investment Income Tax

2020 Tax Brackets

Section 162(m) Proposed Regulations 

Limits on Deductions for Executive Compensation

Young adults. They’re still your children, but legally they’re not (under the law). What are your options? Krystal and Merrell cover legal documents for young adults, and issues for them to consider.

Timestamps

1:09 – In Florida, a parent’s legal right to be in charge of their children is severed at eighteen years old.

2:33 – Durable Power of Attorney and why we recommend it for young adults. (It will allow your child’s college to talk to you about grades, tuition and other things.)

4:30 – Why we also recommend the Health Care Surrogate.

6:50 – Adult children may be in a broken family, where contact is limited with another parent, and guardianship issues in worst case scenarios.

8:10 – Funeral arrangements, example of a UCF student’s parents arguing for over 5 years over his ashes.

11:45 – Pre-need guardianship – going back to the issue of splits in the family. (Britney Spears as example, and her father Jamie Spears being appointed as her guardian.) Merrell also explains her admittedly strange obsession with the National Enquirer.

14:34 Krystal discusses Living Wills and Medical Power of Attorney. Ensuring the person you name as agent understands your wishes.

22:20 The sad case of Bobbi Kristina Brown and her live-in boyfriend, estranged parents, and who was in charge? Would she have chosen differently?

24:20 Why we speak to the (adult) child without the parents present.

25:00 On your college student’s packing list, make sure you include this list of legal documents. (See ebook below.)

Resources

Free ebook from Your Caring Law Firm, 18 and On Your Own

Merrell and Krystal give examples of common real estate fails and how they show up in probate. It’s important to get in front of the right attorney, one who practices in their area predominantly.

Timestamps

:48 – Example 1: Dad is getting ready to move into assisted living, and wants to sell his condo. But there are some major issues with the deed (as in, Dad doesn’t own the condo because of a quit claim deed from 1994 that conflicted with his mom’s will from 1996.)

2:44 – Life Estate definition

3:30 –  Example 1 – Incredibly, the same attorney who prepared the quit claim deed was the same one who prepared Mom’s will and created the mess. Krystal explains how Dad’s siblings also own this property. Two have passed away. Each sibling’s interest passed according to their will, or laws of intestacy. Someone has to open probate for the deceased siblings before the property can be sold.

5:20 – Example 2 – A piece of Florida land owned by 59 people that took multiple probates to clear it up.

6:50 – Example 3 – Mom and Dad had separate trust-based plans, so the homestead was owned 50% by each. But Dad’s half never went into his bypass trust when he “got on the bus.”

7:50 – Clean up a title before passing a mess on. Or it will be costly, and several people/multiple generations of family will need to find a way to come to an agreement.

9:25 – Deed swaps are complicated and create taxable events.

10:05 – Why it’s important to meet with all of your documents so that an attorney can get the whole picture.

11:10 – Merrell’s frustrations about “threshold law” (as in, ‘anybody who crosses the threshold of the door, we can do it.’) Also, shout-out to attorney Joe Seagle in Orlando, and why we outsource all deeds work to his office – because he’s really good at that.

12:35 – Back to example 1, Grandma thought she was doing everything she should have been doing. Unfortunately, it looks like she was, but she was getting it done by someone who didn’t know what they were doing.

12:50 – Example 4 – YCLF looked at four wills a few weeks ago. Not one had a residuary clause. No excuse, because three of four of those wills were prepared by attorneys.

 

If you haven’t done your estate planning (which includes legal documents that allow someone to handle your affairs in the event of an emergency) don’t panic; however, now is a really good time to get them done.

We talk about remote options and some of your most common concerns during the coronavirus pandemic.

Timestamps

:40 We’re getting a ton of calls about what can people do if they kept putting off writing their wills and other documents. What you can do to get prepared in a hurry.

2:30 Planning in advance is far less expensive overall than trying to manage affairs in a crisis, and it’s much easier on your loved ones.

3:20 Legal services and firms are still an essential business, and we’re all still open to help you.

4:45 Krystal explains that before this crisis, they didn’t usually do remote meetings. However, everyone is adapting, and there are ways to get an estate plan done without being physically present.

6:15 Florida’s remote notarization laws. They weren’t supposed to go into place for wills and trusts until July. Florida still requires two witnesses, and Florida has no provision currently for remote witnesses.

8:00 Colorado allows remote notarization due to an emergency directive.

10:00 What happens if you don’t have any legal documents and you end up in the hospital?

10:45 Health care surrogate and living will documents. Most hospitals will provide a health care surrogate and living will form…which isn’t ideal, but they are better than nothing.

12:00 A Do Not Resuscitate order or DNR – hospitals provide this, not lawyers. This ONLY addresses if the heart stops. What’s the difference between a DNR and a POLST?

13:12 A case example: an older woman changed her Living Will to explain that she did not want a respirator/ventilator if they were in short supply. Merrell argues that this would have been better placed in the Healthcare Surrogate form.

14:45 Capacity: If you can communicate, we never get to these documents. But they are a good place to inform everyone of your boundaries and wishes.

16:00 Because of Coronavirus, if your loved one goes to the hospital, you may not be able to go with them. So, you may be someone’s health care surrogate, but the hospital may have the right to refuse you; doctors may communicate by phone.

17:00 Merrell discusses the right to make funeral arrangements and how important it is to include this in an estate plan. Krystal explains what this form looks like in Colorado.

20:30 Hospitals CANNOT provide the essentials: Durable Power of Attorney and others. Good attorneys are out there to help you now.

 

The Tax Bosses share what they know about Coronavirus relief and resources for small businesses.

Timestamps

:50 Introduction of programs

Paycheck Protection Program (banks will have their own requirements on top of the app)
Economic Injury Disaster Loans

2:00 How do you know if you are a sole proprietor or not?

3:45 For the PPP, small business and sole proprietorships can begin applying April 3rd. Independent contractors and self employed can begin applying April 10th.

4:15 Other resources:

American Institute of CPAs
American Bar Association
Florida Bar
Orange County Bar Association
Small Business Administration: PPP, Bridge Loans, 10K EIDL, Debt Relief

6:30 It’s not that there’s a lack of resources…try to find ones that are specific to your business.

 

Merrell and Krystal discuss helping clients through the grieving process.

Timestamps

:38 Introduction – The Likely Resolutions of Oliver Clock by Jane Riley

1:30 Multiple generation family businesses and family participation

3:00 Synopsis of Oliver Clock’s dilemma, and evoking memories of a loved one, sense of smell

5:56 Assistance advisors can provide through the grieving process

6:25 Are you sleeping? A physician could be more valuable than a grief counselor. Grieving is a different chemical reaction than depression.

7:10 Grief can be a reaction to a diagnosis, not just death. Processes and timelines vary.

8:30 Support networks in the modern era