Beating the Midas Curse describes the failure of traditional estate planning in addressing the needs of families across generations. It examines the role of ‘affluenza,’ a destructive relationship with wealth, as a root cause of traditional planning collapse. It also provides detailed analysis of the power of what has come to be known as The Heritage Process as a tool for keeping families, and their prosperity, intact for years. Plus, it describes the role of philanthropy as a major tool for combating the trans-generational effects of affluenza. The authors of the book have counseled thousands of affluent families, from those with modest wealth to dozens of the wealthiest families in America. Beating the Midas Curse is both timely as well as instructive. Studies show that six out of ten affluent families will lose the family fortune by the end of the second generation. By the end of the third generation, nine out of ten of all affluent families have blown through the family wealth, and many have suffered terrible family strife. In The Heritage Process, families learn through a guided discovery process how to make the values that have sustained and guided them to success the bedrock for their financial and estate planning. This ‘family before fortune’ perspective is a powerful antidote to the grim statistics of family wealth collapse and family disunity. Beating the Midas Curse was written for the families and individuals who will benefit most from values-based planning, and for non-profit organizations who want to help inform their constituents about the power of philanthropy in keeping families healthy and strong. The book is written in a lively, informative, conversational style. Authoritative detail is mixed with historical anecdote and real-world examples, and a targeted bibliography provides opportunity for additional reading. For individuals and families, advisors, non-profit officers and anyone else concerned about the health of the family, Beating the Midas Curse is an important book.
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"...a wonderful contribution to the field of gift and estate planning. --A. Charles Schultz, President, Crescendo Interactive
"Couldn't put it down. What a terrific book" --P. Binnion, National Sales Manager for Financial Services Firm
"You need to give away a box of tissue with every book-it's so powerful." --Sharon Porter
"Couldn't put it down. What a terrific book" --P. Binnion, National Sales Manager for Financial Services Firm
"You need to give away a box of tissue with every book-it's so powerful." --Sharon Porter
About the Author
PERRY L. COCHELL is the Associate Regional Director/Senior Endowment Counsel for the Boy Scouts of America, Western Region. Perry supports council professionals and volunteers in the development and implementation of endowment programs. He serves as the technical expert in all areas of tax for current and deferred gifts to councils. Perry earned his Doctorate of Jurisprudence from Willamette University, College of Law in Oregon. He completed his graduate studies at Brigham Young University in Provo, and earned a Bachelor of Arts degree from Arizona State University in Tempe, Arizona. He is co-founder, faculty chair and senior faculty instructor for The Heritage Institute, which provides consulting, training and tools to individuals and families who want to pass both their values and their valuables to future generations, and their professional advisors. Perry is an Eagle Scout, and has been a Scoutmaster. Perry and his wife, Karen, have three daughters and two sons. They live in Mesa, Arizona. RODNEY C. ZEEB graduated Summa Cum Laude from Willamette College of Law in 1986. Rod is a practicing attorney, and co-founder and President of The Heritage Institute. Rod’s law practice encompasses business, financial, estate and retirement planning, estate administration and probate, real estate, and related tax issues. Rod is sought after as a speaker on financial, retirement, estate, charitable, legacy and business succession planning topics. He has presented seminars sponsored by numerous charities such as American Cancer Society, Northwest Medical Teams, Oregon Public Broadcasting, American Heart Association, Boy Scouts of America, Easter Seals, and the United Way. Rod is active in many church, charitable, and community organizations. He enjoys golf, skiing, and other activities with his children, Christina and Ryan, and Ryan’s wife Kristin and his granddaughter Alexa.
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Most Helpful Customer Reviews
5 of 5 people found the following review helpful:
5.0 out of 5 stars
Real Reasons to Plan,
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This review is from: Beating the Midas Curse (Hardcover)
I have been an estate planning attorney for over 15 years. I have seen wealth ruin families, create addictions for heirs and leave future generations without means to pursue dreams. The reasons behind these afflictions are clearly described in this book. Many of my clients have come to me with plans and have left with better plans. But, unless they address the issues in this book, their plans will eventually fail. If you have children, grandchildren, friends, causes or clients you care about, read this book. It gets to the heart of planning.
2 of 2 people found the following review helpful:
5.0 out of 5 stars
Beating the Midas Curse,
By
This review is from: Beating the Midas Curse (Hardcover)
Rod Zeeb and Perry Cochell have done an outstanding job of describing their Heritage Process in Beating the Midas Curse. Their training as Estate Planning attorneys taught them how to use strategies and techniques to pass on wealth to the heirs. But all their training and fancy legal documents did nothing to prepare the heirs to receive their financial inheritance. Watching wealthy families implode prompted them to begin a 20 year journey of trial and error that has culminated in The Heritage Process which is clearly and succiently covered in this fast paced book. I was shocked and amazed to learn that 90% of wealthy families fail to preserve their wealth through the third generation! Zeeb and Cochell have perfected a process that has proven to be the antidote to the "Midas Curse". Parents who are concerned about the potential negative impact of wealth on their children and future generations simply must read this book!
4 of 5 people found the following review helpful:
5.0 out of 5 stars
Beating the Midas Curse,
This review is from: Beating the Midas Curse (Hardcover)
If you ever wanted your children, grand children, great grandchildren and beyond to understand who you are and what was important to you, than this book is for you. It is amazing to find out that with good estate planning (passing estates with a tax efficient plan), that you have a 90% failure rate by the third generation. This book gives you a step by step approach to a process that will be priceless for every family that cares about their family and their community.
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