Melanie Schnoll Begun wears a number of hats as a senior executive at Morgan Stanley, including oversight of the firm’s global community foundation and leadership of its philanthropy management advisory services.
Speaking recently with ThinkAdvisor, Schnoll Begun said she feels she has “the best possible job at one of the best possible places to work.”
Perhaps the most rewarding part of the job, she said, is helping families connect across generations and create a sense of shared values about the impact their wealth can have, locally and across the world.
There are also challenging days, of course, including when clients experience the messy and even tragic side of philanthropic planning — for example when a family experiences an unexpected death or must navigate difficult events like a contentious divorce or fights over an inheritance.
It’s not always easy or even possible to avoid conflicts in such situations, Schnoll Begun said, but having a well-crafted legacy plan helps clients avoid the worst outcomes, such as prolonged legal fights that can drain a substantial amount of the family fortune in legal fees.
See the slideshow for a review of the many ways estate planning can get messy — along with insight about how advisors and clients can work together to avoid negative outcomes.
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