Wealth Insights with Mitch Silberman

Welcome to Wealth Insights with Mitch Silberman: Strategies for Pursuing an Amazing Life of Significance. This show is dedicated to enlightening conversations surrounding financial planning strategies that may help you on your path to an amazing life of significance. Our show features the President & CEO of Silberman Wealth Strategies, Inc., Mitch Silberman, who brings three decades worth of financial planning experience to the show. Mitch grew up as a successful child actor in the 1970's, appearing in commercials and movies, as well as episodes of Bewitched, Gunsmoke, The F.B.I., and the Mod Squad. However, due to the lack of a strategic wealth plan, his childhood earnings were not invested. As a result, a once sizable bank account dissipated. Since then, Mitch has devoted his financial services career to helping people implement smart investment planning strategies and avoiding the mistakes from his past.Each episode will cover a new wealth management topic that Mitch encounters regularly while running his business. Listen as Mitch shares stories and insights highlighting a wide-variety of financial topics that may help with your own portfolio. Thanks again for joining us and we hope you enjoy the conversations to come!

All Episodes

Wealth Insights with Mitch Silberman

Wealth Insights With Mitch Silberman - Episode 3 (The Family Constitution)

October 29, 2021 • Mitch Silberman • Episode 3

One of the biggest concerns facing affluent families is how to manage their wealth so that it achieves many goals. Their focus could be continuing to grow their wealth as it is transferred to younger generations, or aligning the use of that wealth with the values and ideals the family holds dear, or even protecting that wealth from creditors and others who might seek to take it unjustly.

Often the best place to start, is to ensure that your family members are aligned when it comes to key issues. A family constitution can be a great way to get that process going.

In the latest installment of Wealth Insights, Mitch and Ryan explore the benefits of establishing a family constitution to ultimately promote clarity and harmony when it comes to managing family wealth.

Timecodes:
0:07 - Overview on the topic of the day
2:12 - The unique challenges arising when families with wealth work together to manage it
5:00 - How the family constitution utilizes communication
7:19 - How to begin the process of developing a family constitution
9:20 - Who from a given family should be involved in these discussions
11:32 - This is a set of principles, not a legal document
13:02 - How to ensure the family constitution remains relevant over time
14:45 - How a wealth manager, like Mitch, can work with a family on this process
17:17 - Summarizing the benefits fo the family constitution
19:10 - Closing remarks

Connect with Mitch Silberman:
Website
Facebook