Learning and practicing the basics of money management can have a profound impact on a young child’s life. What parents often overlook, even those who are investors themselves, is taking the education to the next stage once their children get older—say, around age 11 or 12. At that point, it may be the right time to start a conversation about investing. The lessons learned can not only develop the investor and entrepreneur in your child, but also the philanthropist.
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The "worth" of art is shifting as more collectors are viewing their collections not solely as an enduring and passionate pursuit but also as an economic investment. And, much as with an investment portfolio, they are paying more attention to the prospects and opportunities their collections can provide, with an eye to legacy planning, tax planning and wealth planning.
Vulnerability assessments and penetration testing may uncover areas where hackers can break in, but what if they are already there?
Analysts anticipating a rebound in European stock markets for the last few years have been disappointed as early-year optimism faded by year-end. The European Central Bank’s aggressive monetary stimulus efforts failed to bring about the same lift in asset prices that US investors enjoyed. But now, in 2017, European stocks are handily outperforming the S&P 500 for the first time since 2012. Bullish investors point to the valuation discount of European stocks relative to the U.S. and improving economic fundamentals as reasons for the rally to continue.
The Trump Administration recently released its "Unified Framework for Fixing our Broken Tax Code" to flush out its tax reform priorities for individuals and businesses. The nine-page document is similar to the single-page bulleted outline the Administration rolled out in April, and it reiterated its position that taxes on corporations and individuals are too high. There is a lot of work ahead to come up with a tax bill that can ultimately be passed and signed into law. It’s a process that will take months and could very likely extend in to 2018.
Lending or transporting your artwork is one of the most vulnerable times when you are susceptible to losses. When it comes to protecting your artwork against those losses, this checklist will help you understand the benefits of working with vendors that have the right level of experience and reputation to help you make an informed decision.
In the last few years, hackers and cyber criminals have become much more sophisticated in how they steal private information, which has led to massive data breaches. These data breaches not only cost an organization hundreds of thousands of dollars in fixes and possible fines, they can ruin a long-established reputation in a matter of hours. Putting in place a robust IT security program will help protect the personal information you maintain from being stolen and misused.
All organizations absorb and retain digital data, and it’s tempting to imagine computer systems are airtight vaults immune to cyberattacks. In reality, IT infrastructure is like a sponge with gaping holes that can cause data to end up in the wrong hands when things don’t go according to plan. Although hacks of all types are increasingly common, there are five straightforward steps that can help prevent them.
So, you need to hire someone to work at your home—a housekeeper, a chef, or a personal assistant. You have decided not to contract these services to a local company, and your family office does not hire staff for you. It is up to you to fill this position. Before letting a stranger into your home, it is important to understand the domestic employment process from hiring through terminating, so you don’t open your family to exposure financially, legally, and socially.
When it comes to placing a value on your fine art collection, it is important to understand and debunk the appraisal myths. It begins with correcting the myth that an appraisal is not needed when in fact it is crucial to establish and protect your valuable collection. Know the facts and guard yourself against the myths that could place your fine art in a vulnerable position and make you susceptible to losses.