Greg Sellers Contributes to CentrAL INC!
Greg Sellers, CPA, AEP ®, a Member in the Tax Division of the firm’s Montgomery accounting and advisory office, contributed an article to a recent issue of CentrAL INC!
CentrAL INC! is a bimonthly publication that covers pertinent topics, trends and concerns that impact businesses in Montgomery and surrounding counties.
In his article, Five Ways To Preserve Generational Wealth, Sellers explores five methods that families can use to protect their current wealth and prepare themselves for the demands and responsibilities of generational wealth.
By fostering a sense of legacy, prioritizing the continuation of financial education, setting employment expectations, addressing wealth protection and establishing a family code of conduct, families can preserve generational wealth and protect the family business for years to come.
In reference to why it’s important to establish a family code of conduct. Sellers says: “Setting clear expectations about behavior and communication can help guide family conduct in ways that protect the business, especially in instances of disagreement. All family members should formally agree to respect each other, promote confidentiality, adhere to ethical and lawful behavior and communicate honestly. When such thoughtfulness is put into a formal family business preservation plan, wealth can benefit a family much longer than three generations.”
Greg Sellers is a leader of the firm’s Estate and Trust Service Area. He has more than 37 years of experience in public accounting, specializing in estate, gift and trust tax planning and compliance. Greg frequently presents on topics such as estate planning, charitable gift planning and use of trusts in wealth transfer planning.
Warren Averett’s Estate and Trust team provides their clients with comprehensive and personalized approaches to estate planning, estate and income tax planning and compliance needs. They help clients identify financial goals, while preserving wealth and reducing potential estate and income tax liabilities.
Learn more about the firm’s Estate and Trust team and our Montgomery CPAs and advisors.
Read the full article on CentrAL INC!’s website here.