This article implores investors to draw conclusions about an investment manager not on the basis of numbers - past performance - but rather all the factors you can explore without looking at their track record. Once you have formed your opinion, see whether it tallies with the manager's track record.
Educating the children of wealthy families can be an extremely difficult challenge. Today, more and more family offices are recognizing the compelling need to assist in the effort to educate heirs.
Timing isn’t everything in year-end charitable giving — it’s the only thing. When considering year-end charitable gifts, donors should keep these simple steps in mind.
While a single year may seem like a blink of an eye in the course of a human life, much can change over 12 months. With so many aspects of life constantly shifting, an estate plan created 10, five or even a mere two years ago cannot automatically be assumed to be appropriate for clients’ current situations. It is therefore important to review the estate plan annually to ensure that the right people and processes are in place.
FOX has examined the topic of risk management in our work with families for more than 15 years. One of the most difficult aspects of studying the threats that impact financial families is categorizing the various dimensions of risk that pertain to a multi-generational family situation.
Asset Diversification
This article addresses the complex U.S. tax rules governing cross-border grant-making by private foundations.
“Mentoring is more than just a relationship between two individuals,” said James Ruddy, who launched a discussion on the topic at an enlightening and laughter-punctuated session at the 2005 Family Office Exchange CEO Forum. An attentive audience heard four diverse perspectives on the role of mentoring as a means to educate and groom successive generations.
Selling the family-owned business is one of the most important financial decisions and transactions that any family will face. Business owners, their children and grandchildren will live with the results for a long time to come. Getting it right is important to maximize family wealth, and some basic advance planning — even several years in advance — could help achieve that critical goal.
In today's world, domestic asset protection trusts can be a useful planning tool. However, under certain circumstances can be subject to intense scrutiny. Holland+Knight defines and outlines the case for domestic asset protection trusts.