Passing the Bucks: Protecting Your Wealth From One Generation To The Next

By Norman A. Pappas

Passing the Bucks reveals the secrets of effective business succession and estate planning that can help reduce or even eliminate the risk of losing most of the assets you've worked so hard to... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0967451809
• ISBN13: 9780967451800
• Release Date: November 1999
• Publisher: Enterprise Group
• Length: 235 Pages
• Weight: 1.85 lbs.

Customer Reviews

Stop Here for the Bucks!

Norman Pappas has made good on the promise in his book's title; it really does help the reader understand the obstacles to passing wealth from one generation to the next - and how to go over, under, and around those roadblocks. This is a solid, common sense, easily-read guideline for those who are wise enough to learn from others how to preserve what it took a lifetime to build.

Passing the Bucks - Read it before it's too late!

Only two types of people should read "Passing the Bucks": people who own businesses and people who will someday die.It is Norman Pappas' factual yet enjoyable presentation of personal financial essentials that separates "Passing the Bucks" from similar books. Believe me, I've struggled to read many of them in an effort to understand how to keep Uncle Sam at bay and preserve the results of a lifetime of work for my heirs and business partners. Now I've finally got it!The author is an obvious authority on wills and trusts, business succession, insurance, estate taxes, corporate benefits and personal financial planning.However, it's the WAY he brings it all across that makes it all so digestible. You can almost see this book - and its chuckle-filled Q & A format - as a TV series with Jerry Seinfeld or Tim Allen as the baffled businessman (hey, they're just sitting around counting their money now anyway).The ease of finally understanding the alphabet soup of trust options (GRIT, GRAT, CLAT, CLUT, QTIP) makes us want to put together a plan NOW to protect our assets. I never realized that my children might only see 27% of my IRA dollars! And who knew that it costs me $155 to make a gift of $100 while I'm alive...but $222 to give the same $100 in a will when I'm gone? I know now!As Mr. Pappas says, we and our accountants and lawyers are too busy putting out the day-to-day brush fires to deal with the forest fire that's just over the horizon.I now feel confident that the people I love will be the biggest beneficiaries - literally - of my having read "Passing the Bucks."

"Passing the Bucks"- Forewarned is Forearmed

In "Passing the Bucks", Mr Pappas, a highly successful life underwriter and financial planner provides the highly affluent with an epicurean feast of wealth preservation techniques that he has used in over twenty-five years of hands on experience. The book is divided into two sections. The first deals with the passing of business assets, the second with personal assets. While written in a voluble question and answer format, the book is also a compendium of wealth transfer ideas that can and should be saved for future reference. Mr Pappas states that estate planning is a perpetual process that cannot be done in one afternoon with a group of professional advisors. The issues are complex and unique to each individual and must be continually reevaluated in the face of changing personal situations and governmental regulations. "Passin the Bucks", is not, and does not claim to be a substitute for professional advice. Instead it should be used by the individual to gain knowledge so that he/she can come to the table with his/her advisors armed with the knowledge to carry on an efficient and intelligent discourse. With a little time and effort this volume will provide the affluent individual with information needed to preserve assets that have been acquired over a lifetime. So long as the government, through odious tax policy, continues to destroy family bussinesses and conficates already taxed personal assets, people like Mr. Pappas will be a welcome savior.CGJM@AOL.COM