The death of a loved one is a difficult and emotional time for a family. There is often additional stress if you are appointed as the executor of the will and trustee of your family’s trusts, especially if the deceased had been the sole manager of substantial family assets and wealth. For an untrained person, it can be a daunting role. For these reasons and more, many families are choosing not to appoint a family member or close friend to be their executor and trustee. Rather, they are choosing a professional trustee company to act either solely or jointly with a family member.
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Poorly structured family meetings that lack a clear purpose and agenda can do more harm than good. Failing to get buy-in from all family members can cause irreparable damage to relationships, despite the best of intentions. There are five key tips for holding a successful family meeting, which is an essential ingredient for managing wealth across generations and ensuring families achieve their ultimate goal of sustaining family unity, maintaining wealth, and preserving the family legacy.
The UK has voted to leave the European Union after 40 years of membership, defying the expectations of most market participants and ignoring the warnings from the International Monetary Fund and other leading economists regarding the negative impacts on trade. Market reaction was swift, with the pound falling to a 30-year lows and a “risk-off” trade rippling across the global markets. While the UK leave vote (“Brexit”) has generated volatility and a flight to safety trade in the short term, it has not altered our longer term outlook on global markets.
The Brexit vote—the United Kingdom voters’ decision to exit the European Union—has unleashed political, economic, and financial uncertainty that will play out over the months ahead for affected currencies, equity, and fixed income markets, sectors, and individual firms. Immediately after the vote, market values for banks, insurance companies, and asset managers dropped from 5 to 30 percent, with UK firms understandably hit the most and those less reliant on UK-based revenue sources impacted the least.
The United Kingdom’s (UK) voluntary exit from the European Union (EU) is unprecedented—and with it comes more questions than answers about how it will affect business entities in the UK and beyond. Economists anticipate at least several years of uncertainty, which typically does not bode well for financial markets. U.S. companies that sell to, buy from, or operate in the UK or EU, or are engaged in their financial or stock markets, are likely to experience some financial effects—but the nature and extent of those effects is still to be determined.
In a historic referendum, 51.9 percent of voters in the United Kingdom (UK) elected to leave the European Union (EU), catching global markets off guard. Reaction has been significant, with large currency moves, falling yields on perceived safe-haven government bonds, and large sell-offs in the equity markets. Within a day of the vote to leave the EU, the British pound sterling dropped over 6 percent, the 10-year Treasury yield fell to 1.56 percent, and global equities plunged 3 to 9 percent. The spillover effect to the U.S. economy will be minimal, but earnings of U.S.
Britons voted to exit the European Union on June 23, marking the first time any country has left since its formation. The political consequences for Britain’s Prime Minister were swift, and people around the globe reacted with shock and confusion. The economic and investment impact of this decision led to a rising U.S. dollar and falling GDP growth estimates, which will put downward pressure on S&P revenue growth in an environment where sales, margins and corporate profits are already challenged.
After the United Kingdom (UK) voted to leave the European Union (EU), the global markets shifted to a “risk-off,” with global stocks, the British pound, and the euro all declining while the U.S. dollar, gold, and high-quality U.S. bonds rallied.
Studies show that nearly two out of every three homes are underinsured, and not all homeowners insurance policies are the same. There are significant coverage differences between standard insurers when compared to premier insurers that specializes in protecting high-value and architecturally unique homes. Having the right homeowners coverage will help ensure that you don’t have any unnecessary or unaddressed exposures that could result in an uncovered loss.
Some investors may think that their investment portfolios aren’t “making the grade” because they started investing at a point in the market cycle that has resulted in meager gains or even short-term losses. In volatile environments, a certain discipline is required to stick to an investment plan and avoid the temptation to exit the market. It can be difficult to resist the flight instinct in the midst of negative headlines and geopolitical uncertainty, but staying invested positions investors to capture the next market upswing.