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One of the best ways to help ensure the safety of your family and friends while aboard your boat is to identify common maintenance items before they become a problem. And if your boat is hauled out for winter storage, there are important recommendations to follow to help ensure that your boat will be ready for safe and reliable cruising again next year. It is also essential to consider a marine survey. Having a periodic inspection by a qualified, independent marine surveyor is a critical part of all boat ownership, and is particularly crucial for aging, gasoline-powered boats.

The internet and connected devices are transforming the world, mostly for the better. But for all the advantages cyberspace brings, there are also growing risks for businesses and families, all of which are relevant for family offices. We’re all vulnerable, but wealthy families are particularly attractive targets in the eyes of cybercriminals. Learn how it's possible to manage cyber risks, while taking full advantage of digital technology.

A foundation is a powerful platform through which families can address the challenges in society about which they care about most. Yet, most families only use a small portion of their foundation assets to pursue their philanthropic missions. As families grapple with the scale of funding solutions to the world’s toughest challenges, many are turning to impact investing as a powerful tool for maximizing a foundation’s assets for good.

Lack of business succession planning is a surefire way to lose the family business you’ve worked hard to create. To help you maximize your legacy’s ultimate value, you can implement several wealth transfer strategies and diversification alternatives to preserve your wealth and transition your business to future generations. With a holistic and solid plan in place, you will not only help your successors take over your company, but also help to reduce the estate tax burden on the next generation.

Research indicates that multigenerational involvement is the single most important factor in sustaining family wealth into the third generation and beyond. Furthermore, the families that most successfully integrate younger members into their family operations seem to share the same philosophies and core values. It’s a family enterprise mindset that prepares the rising generation to be able to step in immediately and manage the family’s financial assets, run the enterprises, and preserve the culture and legacy.

Employers and employees have a lot to think about and keep track of when it comes to health benefits. One of the most obvious, but often troublesome issues, is telling employees just what those benefits are. Employers who provide health benefits are required by law to tell employees what the available benefits are and to do so in plain terms that are easy to understand. Enter the Summary Plan Description (SPD), which must be delivered to employees every new plan year.

Senior leaders increasingly take opportunities to sit on boards or serve as executives of outside entities. But while serving in that capacity, is an individual director or officer covered under his/her organization’s directors and officers (D&O) liability insurance policy? Although such opportunities may benefit all companies involved, it also raises significant liability issues. As a result, it is critical to understand how D&O insurance protects executives that serve on other companies’ boards.

The time has arrived when you are about to retire or transition your business, bringing a reliable source of income to an end. Do you have adequate sources of funds available to replace that income so that you can maintain your current lifestyle? This is a common planning question among the millions of Americans approaching retirement, regardless of age or overall net worth. If properly executed, a detailed approach to planning and investing can result in a longer time horizon for your financial resources during retirement.

The families with the strongest governance plans are those that survive the most challenging times. They understand the importance of listening to younger generations and bringing them into the decision-making process. Other families find it more challenging to discuss wealth issues openly and to share decision making.

There are few issues in family business that create more conflict and tension than the employment of family members. The complexities involved and the breakdowns in communication and trust can contribute significantly to the alarmingly high rate of failed intergenerational transitions in family business. The good news is that there is a way for families to better position themselves to overcome those challenges by looking at the 10 most common mistakes family members make when it comes to hiring (and firing) for their business.