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In difficult economic times such as this, we tend to forget — or minimize — the impact of turnover in the office. This is primarily due to the fact that people seldom leave their jobs in a tight employment market — even if they are unhappy. Turnover is costly, particularly in a small office environment. Smart family offices will pay extremely close attention to innovative recruiting strategies, job satisfaction, employee involvement and modern management techniques to attract and retain their best people.

Fox interview with Nan-b de Gaspe Beaubien in Montreal. In an effort to broaden our global perspective, this is our second look at internationally based family groups.

Julius Rosenwald, the organizational and merchandising genius responsible for the extraordinary growth of Sears, Roebuck & Co., had five children, the youngest of whom was William. When Julius passed away in 1932, he left a single organization which was responsible for the oversight and management of his children's affairs and assets. In 1946 William, who prefers to be called Bill, left that office to found his own organization.

Most of us live with a fair amount of interpersonal conflict, largely because we really don't believe that it can be resolved. Ongoing controversy within families and between family members and family office staff is a common experience, but it is not a necessary one.

Fox interview with Matthew Davidson (Kaplan family) and David Patterson (Choate family), from their of offices in New York City.

Building and sustaining a team of responsive, compatible employees is one of the keys to a successful family office. In the sports world, professional team managers use a variety of diagnostic tools to enhance their team-building techniques. In the family office, managers can use similar diagnostic tools to gain valuable insights into how groups of employees are likely to work together.

Fox interview with the Donahue family and Harry Sichi in Pittsburgh at Harry's office.

Taking affirmative steps to move one’s property and connections out of their old home is critical to avoiding undesired consequences, such as dual domicile treatment or taxation by another state. This checklist identifies primary and secondary factors that should be considered when establishing domicile in a new state for income tax purposes.

Inflation is almost always a topic of discussion when thinking about and planning for the future. This paper explores the many factors that affect the inflation rate, whether an uptick in inflation is helpful or harmful, and the cyclical forces that could push toward higher inflation. Despite all the theory and prognostication, no one knows exactly where inflation is headed.

In this episode, guests Amy Miller and Alex of the AICPA Tax Policy & Advocacy Team share updates and provide insights into the areas the team is closely watching and working in. Here's what they cover: