The popularity of international travel will grow and evolve as accomplished individuals seek to add memorable and thrilling experiences to their lives. While you can certainly experience a special trip nearly anywhere in the world, don't be hasty in your preparation. Protect yourself with the right information and insurance to avoid large and small risk exposures.
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Flying privately has become increasingly popular for a variety of reasons, including convenience, security, and lifestyle, but there are several considerations in determining what usage and ownership structure is right for you. Like making a real estate investment, owning or leasing a plane poses many financial, tax, and regulatory issues, as well as the technical aspects of evaluating and operating a highly sophisticated, multimillion-dollar piece of equipment.
Originating in English common law, trusts have been used for centuries to manage holdings of the wealthy. Even though trusts are quite common, many people may find them hard to understand. Having an introduction to the trust basics is a good place to begin and learn how trusts are used in wealth management plans to help provide financial support for family members, protect family assets from a myriad of risks, and help mitigate taxes.
The question Virginia “Ginny” Esposito, Founder of the National Center for Family Philanthropy, gets asked the most, is “How can I engage my family in philanthropy?” In this episode, Ginny highlights what family business is and common trends in the work she has been in for over 30 years. She has lots of wisdom for parents and great resources, whether you are just getting started or if you’ve been giving for decades.
It's a pivotal time for Single Family Offices, with more and more reviewing their structure and operations to minimize risks. In this roundtable discussion, experts share how Single Family Offices are evolving and addressing new risks and risk mitigation strategies.
While laws in the United States generally allow trust property to be protected from the creditors of beneficiaries, there has traditionally been an exception to these protections where property in a trust is derived from a beneficiary’s own contributions to the trust. In rejecting this traditional rule, some states have modernized their laws, via statute, to allow creditor-protected self-settled trusts under certain circumstances. Some key provisions of these laws are summarized for comparison.
Families of wealth and business-owning families report that privacy and security of personal and financial data is a concern, yet few report confidence that these risks have been mitigated. This guide is designed to help families, family offices, and family enterprises integrate a security strategy in a code of conduct framework that is responsive to the family’s risk and intrusion tolerance that comes with living in a digital world.
In today’s hyperconnected world, news headlines are filled with stories about identity exposure, data breaches and other major threats to your personal information and financial assets. This guide provides best practices, resources, and actionable advice to help you protect yourself or recover from a cyberattack.
The wildfire activity in late 2017 reached unprecedented levels and many lessons were learned from the devastation. With the intention of helping those in vulnerable areas to improve their homes’ resiliency to wildfire, and most importantly, keep their families safe, tips and recommendations are provided on life and safety evacuation, smart landscaping, home design, and general property maintenance.
Succession planning for a family business inevitably requires planning for the transition of the management team. This transition presents several challenges, including dealing with non-family managers and with a family member who is not suited for a leadership role in the business. These difficulties are not insurmountable, and, with clear communication, careful planning and assistance from advisors, the family will end the planning process with a stronger and more successful management team and family business.