Beating the Midas Curse Perry L. Cochell & Rodney C. Zeeb

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.

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.