TALLAHASSEE REGIONAL ESTATE PLANNING COUNCIL

Cliff is a member of the Goldman Sachs Family Office Wealth Advisory Services. He works with the firm’s private clients and their advisors to develop wealth management plans that often combine a variety of income tax, gifting, and estate planning techniques. Cliff also serves on the Board of Directors of The Goldman Sachs Trust Company, N.A. Cliff joined Goldman Sachs as a managing director in 2006.Prior to joining the firm, Cliff was a partner with the law firm of Wolf Block Schorr & Solis-Cohen, LLP. He served on Wolf Block’s Executive Committee and was chairman of Wolf Block’s Private Client Services Group.

Cliff is a member of the advisory Board of Overseers of the Einstein Healthcare Network. He also serves as a director on the Eastern Pennsylvania Regional Board of the Anti-Defamation League. He previously served on the Board of Trustees of the National Museum of American Jewish History. Cliff was the 2008 recipient of the Edward N. Polisher Award in recognition of his distinguished service to the Philadelphia Jewish Community. He is past president of the Philadelphia Estate Planning Council (PEPC) and PEPC’s 1998 recipient of the Mordecai Gerson Meritorious Service Award. In 2017, Cliff was honored by the PEPC with the Distinguished Estate Planner Award. Cliff is a fellow of the American College of Trust and Estate Counsel. He has been a frequent author and lecturer on estate planning and transfer tax related topics including estate planning for corporate executives and risk management tools/techniques for philanthropic organizations.

Cliff earned a BS, magna cum laude, in Economics from the Wharton School of the University of Pennsylvania and a JD, cum laude, from the University of Pennsylvania Law School. He was admitted to practice law in Pennsylvania and New York and earned a CPA license in New York.

Multi-Generation Planning/Engagement

Summary:  Professional advisors play an integral role in multi-generational wealth planning. There are tax implications that must be considered to ensure a family’s wealth and legacy are properly managed and passed on from one generation to the next. Another important consideration is how much does Generation-2 and Generation-3 know or should know about Generation-1’s plan?  What are strategies a professional advisor can use to engage Generation-2 and Generation-3 to facilitate transitioning them to be future clients once they inherit the wealth from Generation-1’s plan?