Principal<\/em>
Winged Keel Group<\/p>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2026\/08\/Zach-Specht.jpg” alt=”Zach Specht” title_text=”Zach Specht” _builder_version=”4.27.6″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Author” _builder_version=”4.27.6″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n
By Zach Specht<\/a><\/strong> [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” collapsed=”on” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_video src=”https:\/\/www.youtube.com\/watch?v=IqMVW89eNWQ” disabled_on=”on|on|on” _builder_version=”4.27.6″ _module_preset=”default” disabled=”on” global_colors_info=”{}”][\/et_pb_video][et_pb_text admin_label=”1″ _builder_version=”4.27.6″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n <\/p>\n Risk compartmentalization, investment policy discipline, and creditor protection concepts for business-owning families<\/em><\/p>\n For families whose wealth is concentrated in a closely held operating business, diversification becomes particularly important once the company generates more capital than it can prudently reinvest. At that point, surplus earnings can remain in the business, accumulate in a taxable investment account, or move into a separately governed pool of long-term family capital.<\/p>\n Private Placement Life Insurance (PPLI) can serve as a \u201cfamily bank\u201d for this phase of wealth creation. It is not a replacement for working capital, bank credit, or treasury management. Rather, it can separate strategic capital from operating volatility, impose investment-policy discipline, reduce income-tax drag during the compounding period, and preserve access to capital during the insured\u2019s lifetime.<\/p>\n When properly designed and administered, policyowners generally may access policy value through withdrawals and policy loans. Subject to policy terms, basis, adequate funding, and applicable tax rules, those withdrawals and loans are generally received income tax free. This gives the family flexibility to use the PPLI policy as a long-term capital reservoir: money can be taken out when a qualified opportunity arises and, when liquidity permits, put back into the policy rather than permanently depleting the reservoir.<\/p>\n In certain jurisdictions, PPLI may also support creditor-protection objectives. Those protections are jurisdiction-specific and fact-dependent.<\/p>\n A well-designed structure can help a family separate surplus capital from operating assets, institutionalize investment governance, improve after-tax compounding, allow for tax-free access, and preserve optionality for strategic opportunities.<\/p>\n <\/p>\n [\/et_pb_text][et_pb_divider divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”Winged Keel Logo & About” _builder_version=”4.27.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/ahola.com\/” link_option_url_new_window=”on” global_colors_info=”{}” global_module=”17120″ theme_builder_area=”post_content”]<\/p>\n About Winged Keel Group [\/et_pb_text][et_pb_divider divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text disabled_on=”off|off|off” admin_label=”Become a member text” _builder_version=”4.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n The need for fact-based reporting of issues important to family owned businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, successful families<\/a> and family owned businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to family owned businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.21.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider divider_style=”dotted” disabled_on=”on|on|on” _builder_version=”4.27.4″ _module_preset=”default” disabled=”on” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider disabled_on=”on|on|on” admin_label=”Video Slider Family Business Stories 1″ _builder_version=”4.27.4″ _module_preset=”default” disabled=”on” global_module=”5963″ global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=3k9d1tFz5AU&t=22s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=kG0lDKbmJxg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=HFK8SG1VSco” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=Z15BqbFOYck” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=bsn5xYrxhJg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=PL3K3rK7ioA&t=5s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=CpXRbRBhPKc” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text disabled_on=”off|off|off” admin_label=”FEUSA Statement” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_text disabled_on=”on|on|on” admin_label=”Hash tags & Tags” _builder_version=”4.27.6″ _module_preset=”default” disabled=”on” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #incometax #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #StepUpinBasis #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #incometaxrates #repealestatetax #AdvocatingForFamilyBusinesses #FamilyOwnedBusiness #WomenOwnedBusiness @FamilyEnterpriseUSA #FamilyEnterpriseUSA #FEUSA<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" By Mark RichardsPrincipalWinged Keel GroupBy Zach SpechtManaging Director, Client Relationship ManagerWinged Keel GroupRead Mark Richards and Zach Specht\u2019s Full Whitepaper – Click Here Risk compartmentalization, investment policy discipline, and creditor protection concepts for business-owning families Executive Summary For families whose wealth is concentrated in a closely held operating business, diversification becomes particularly important once […]<\/p>\n","protected":false},"author":2,"featured_media":18105,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,92],"tags":[],"class_list":["post-18095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-multi-generational-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/18095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18095"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/18095\/revisions"}],"predecessor-version":[{"id":18106,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/18095\/revisions\/18106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/18105"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Managing Director, Client Relationship Manager<\/em>
Winged Keel Group<\/p>\nRead Mark Richards and Zach Specht\u2019s Full Whitepaper – Click Here<\/span><\/em><\/strong><\/a><\/h3>\n
Executive Summary<\/strong><\/h4>\n
Read Mark Richards and Zach Specht\u2019s Full Whitepaper – Click Here<\/span><\/em><\/strong><\/a><\/h3>\n
\u00a0<\/h4>\n
![\"Winged-Keel-Group\"](\"https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2026\/02\/Winged-Keel-Group-Logo_Color-300x124.png\" "\\"Buchanan"){kind=logo}
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<\/strong>Dating back to 1851, the America\u2019s Cup is the oldest continuous competition in sport. The 1983 race marked the first time that the challenger had won the Cup since the contest began. The challenger\u2019s key to victory was the development of a \u201cwinged keel.\u201d This structural development increased the challenging yacht\u2019s stability, enabling it to move more smoothly and quickly through the water.<\/p>\nWe hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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