Personal liability for family members serving individually as a trustee can result from improper asset allocation, lack of diversification, unacceptable due diligence and monitoring, environmental issues with real estate, and other distribution and/or investment issues. The directed trust and private family trust company (PFTC) are two great options to combat these potential liability issues without inhibiting a family’s flexibility and control.
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With the International Monetary Fund and most analysts ratcheting down global growth forecasts, no end in sight for Europe’s fiscal and financial challenges, and a looming fiscal cliff in the United States, there is considerable hope that China, the world’s second largest economy, can remain an engine of global growth. Only Chinese growth his slowing rapidly. Is it time to revise expectations?
This paper looks at the possibility of an upturn in housing and the headwinds most likely to impede a robust recovery.
Dividends have taken a back seat in recent years, but historically have represented 40% of large cap equity market total returns. In some periods, dividend income was the only return to equity investors. Higher yielding equities provide strong current income plus the opportunity for appreciation without being eroded by future inflation. The Relative Value Dividend Focused strategy’s annual gross yield of 2.9% as of December 31, 2011 was 30% higher than the S&P 500 yield of 2.2% and over 50% higher than the 10-year Treasury yield of 1.9%.
Pension plan sponsors face significant challenges. Retirement obligations continue to increase, and the two major equity market set-backs in 2000 and 2008 have produced widening funding gaps. So what does the future hold? Will their plans be able to reliably achieve their stated return objectives? Unfortunately for plans relying solely on traditional equities and fixed income, the prospects look grim. Our analysis suggest these plans will likely experience a 2% shortfall per annum over the next 7-10 years.
For many private collectors of fine art, lending artwork from their collection to a museum or cultural institution is a highly valuable and meaningful experience. For the good of the arts, it is very important that collectors continue to loan, but for the protection of collectors, it is also important that the financial value of the artwork be fully insured while on loan. This white paper looks at what collectors can do to protect their assets.
Clear ownership often overlooked when making a fine art or collectible purchase. This article examines recent real market scenarios in which collectors and galleries were faced with title disputes.
Art ownership disputes occur every day in the market, which may include historical theft or traditional liens and encumbrances. Buyers, sellers, museums and fiduciaries should be aware of liability issues created by lack of transparency in art and collectibles transactions.
Clear legal ownership in the art world does not mean simple possession. This article focuses on fiduciaries and ultra-high-net-worth clients and the challenges faced when managing trusts.
With only a few months to go until the end of the year, those who have not fully used their available lifetime gift, estate and generation skipping transfer exemptions may be running out of time. This paper outlines some ideas for making relatively simple and quick use of the opportunity, so that it does not go to waste.