Buying ample insurance for an art collection goes without saying, but it’s how collectors manage their coverage that can make the difference when disaster strikes. This paper examines the benefits of regular appraisals of collections, key questions to ask about the storage and transportation of collections and essential features of insurance coverage.
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For many individuals, owning a horse is the realization of a lifelong passion, but it also increases their risk of financial losses or lawsuits. Regardless of whether individuals board a horse on their own property or at a professional facility, they should give special consideration to their insurance needs to ensure they’re adequately protected.
When carried interest is transferred early in a fund’s life, it can have a very low value relative to its potential value at payout. It’s this payout potential that makes it an ideal asset to be used in estate tax-reduction planning, especially when used in combination with a grantor trust allowing for that appreciation to compound on an income tax-free basis.
Portability may have been viewed initially as the simple solution in situations in which there was the potential for loss of the applicable credit amount of the first spouse to die. While this is a valuable benefit, the impact and potential planning opportunities for portability go beyond this important but somewhat limited scope.
Bruce Golden of Accel Partners has been recognized as one of the top 100 venture capitalists in Forbes’ Midas List of tech investors. He also sits on the boards of several public and private companies. In a recent interview, he shared his perspective as both a board member and investor, and explained how communication and measurement are the keys to good private company governance.
Many, if not most, consumers of water are not aware of the inevitability of shortages, do not notice the impact of pollution on supplies and are oblivious to the fact that future prices will be dramatically influenced by these and other factors. Yet, there are realists who are well aware of their water footprint and are intent on making changes.
The obvious reason to encourage wealth in a free society is that the lure of becoming rich is what motivates many talented people to put those talents to use in the service of human betterment. The world has been infinitely enriched by people who started out poor or middle class but who became rich by building something extraordinary.
1031 exchanges are a common way for collectors to defer payment of federal capital gains tax when they sell appreciated property and buy like-kind property of the same or greater value. However, these exchanges must be planned carefully. This article features an example of a fine art 1031 exchange gone wrong and how alternative structures can prevent failures and reduce expense.
This paper examines how good active managers and hedge funds need to be to outperform passive index funds on an after-tax basis using over 40 years of data. The authors note that while many studies look at the impact of fees on active manager performance they are not aware of any studies that incorporate the impact of taxes over long periods of time.
A careful and disciplined approach to philanthropic giving combines purpose, practicality and passion. Strategic philanthropy is similar to intentional asset allocation in that it requires as much of the giver’s brain as it does the bank account. This white paper explains a higher quality of giving, an important part of many high net worth individuals’ financial priorities.