CANFIELD, Ohio – In this excerpt from The Business Journal Roundtable Series featuring wealth building, local wealth management experts weighed in on the considerations investors face when transferring assets to younger family members or charitable organizations.
Sid Jones of Merrill Lynch emphasized the importance of legal coordination and the use of trusts to protect and direct generational wealth. Brian Hostettler of Hawthorn Family Wealth advocated for flexible planning based on heirs’ changing needs, while also noting philanthropy as a means to instill values. Jonathan Lapine of Tolmiros Financial detailed how asset types, such as Roth IRAs, play a strategic role in tax-efficient legacy planning. Stephen VanSuch of Stifel Financial underscored the importance of assessing both a nonprofit’s mission and its financial health before making a gift.
The panel collectively stressed the need for deliberate planning, professional guidance and ongoing evaluation when preparing wealth for future generations or philanthropic impact.
Watch the full discussion HERE.
Read the full transcript HERE.