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Five Tools for Talking About Money And ValuesFive Tools for Talking About Money And Values

How to break the taboo.

13 Min Read
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In his article “Why So Many Americans Don’t Talk About Money” published in The Atlantic on March 2, 2020, Joe Pinsker started off by saying that Americans love to talk about how they hate to talk about money. Then he gave a striking statistic: “Only 17 percent of parents with an income above $100,000 a year had told (or planned to tell) their children how much they earn or their net worth.”

This taboo about talking about money is, in our opinion, a primary reason dissension develops among family members as the older generation ages. Even if it doesn’t lead to outright dissension, these missing conversations leave holes in the fabric of the family relationship. All of us have a relationship with our money. A family’s relationship with it...

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About the Authors

Mark Powell

Partner, Private Wealth Services practice group, Holland & Knight

Mark Powell is a Partner in Holland & Knight's Private Wealth Services practice group. He is based in the Los Angeles office and works with clients across the country to create meaningful estate plans meant to be flexible and remain relevant to beneficiaries over several generations. His work is focused on charitable planning, family philanthropy, and matters related to family governance and succession planning. Before joining Holland & Knight, Mark was a partner in the Tax, Trusts & Estates practice group at Dorsey & Whitney and a partner in the Private Clients Services practice group at Snell & Wilmer. He received his undergraduate degree from the University of Georgia and his law degree from Mercer University's School of Law. He has been a member of the State Bar of California since 1996, which has certified him as a specialist in Estate Planning, Trust and Probate law. Mark has written for a wide variety of estate planning journals, and his contributions to the advancement of the estate planning field were recognized when he was appointed by his peers as a Fellow of the American College of Trust and Estate Counsel. In addition to his practice at Holland & Knight, Mark serves as an adjunct professor of law at Chapman University's School of Law.

Ashley Fontanetta

Vice President, philanthropic services, Whittier Trust

Ashley Fontanetta is vice president, philanthropic services at Whittier Trust in South Pasadena, Calif.