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Hamlet or Sinatra …Contradictions & Creativity in the Business Owner’s Estate Plan
“‘Tis not sleepy business, but must be look’d to speedily and strongly.”Hamlet
In English literature, Shakespeare’s Hamlet is as famous as he is puzzling. Unable to resolve his doubts surrounding avenging his father’s death, he never resolves his contradictions, ultimately leading to tragedy. Frank Sinatra, by contrast, was not immobilized by the contradictions inherent in his character. From tough guy to philanthropist, perfectionist to pragmatist, Sinatra fashioned a remarkable career by resolving his contradictions and turning action into musical masterpieces.
Business owners are also often conflicted, especially when it comes to keeping, selling, or gifting their business. They want to keep control, but enjoy the tax savings from transferring future appreciation out of their estate. They hold large concentrations of closely held stock, while recognizing the need to diversify investments. And they strive to balance leaving an inheritance to their family with their wishes to leave a legacy to their community.
An attorney and professional speaker, Steve Pappaterra is senior vice president and managing director of Wealth Planning for PNC Wealth Management, one of the country’s premier trust and investment firms. He has responsibility for 70 wealth planners, nearly all of whom are attorneys, CPAs, or certified financial planners (CFPs®). A frequent lecturer, Steve has published extensively on estate planning, philanthropy, and communication. In addition, he has appeared on CNBC and been quoted in US News & World Report, USA Today, Fortune, Forbes.com, and Town & Country, among others. (Steve is also a professional drummer and Shakespeare enthusiast, hence the genesis for the title of this presentation.)
Whether it is business succession or pre-sale tax strategies, risks and opportunities abound in estate and wealth planning for business owners. And the issues have never been more complex. Thought-provoking, authoritative, and highly interactive, attendees can be certain that the content for this session will be “Anything But Obvious”… and the presentation “Anything But Dull.”
Program Length: 45-60 minutesProgram Length: One HourPlease direct inquiries to:Stephen S. Pappaterra, J.D.Senior Vice President Managing Director of Wealth PlanningPNC Wealth [email protected] PNC Financial Services Group, Inc. (“PNC”) provides investment and wealth management, fiduciary services, FDIC-insured banking products and services and lending and borrowing of funds through its subsidiary, PNC Bank, National Association, which is a Member FDIC, and provides certain fiduciary and agency services through its subsidiary PNC Delaware Trust Company. PNC does not provide legal, tax or accounting advice.Investments: Not FDIC Insured. No Bank or Federal Government Guarantee. May Lose Value.
August 2010
Speech Abstract
