Ray Rath from Globalview Advisors attended the Orange County, California Branch of the Society of Trust and Estate Practitioners (STEP-OC) Seminar on “How to Coordinate A Business Succession Plan with an Estate Plan” held at the Northern Trust Company in Newport Beach, California. The seminar was presented by Thomas F. Monaghan, CPA, MST, TEP, a partner with Allen, Haight & Monaghan LLP, located in Irvine. Mr. Monaghan focuses his practice on strategic transition and wealth transfer planning for family-owned businesses. Key topics discussed at the seminar included identifying the key components of a successful wealth transition plan; avoiding landmines that sabotage effective succession planning; and the advisor’s role in engineering a successful transfer of family wealth and core values.
The Society of Trust and Estate Practitioners (STEP) is the worldwide professional association for those advising families across generations. STEP promotes best practice, professional integrity and education to its members, and helps families plan for their futures from drafting a will or advising family businesses, to helping international families and protecting vulnerable family members.