In the healthcare industry, a multitude of factors have driven a transition from a fee-for-service model toward a fee-for-value approach, which emphasizes the quality and outcome of care delivered. This emerging trend could present interesting investment opportunities that is also in alignment with the United Nation’s Sustainable Development Goal of good health and well-being. Beyond the steady rise in healthcare costs and increasing burden placed on consumers, three factors are believed to have advanced the adoption of a fee-for-value model.
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If your boat is hauled out for winter storage, here are some suggestions on what to do before, during, and after the haulout. Each recommended step will help you ensure that your vessel will be ready for safe and reliable cruising again next year.
The more you have acquired, the higher your risk for litigious encounters. Your financial security could become severely compromised due to accidental events you may have thought were adequately covered. Excess liability insurance responds when the underlying liability limits of your various other policies have been exhausted. It is a critical, but often overlooked, component of your personal risk management portfolio. View the video below to learn more about excess liability insurance.
If your boat was in lay-up over the winter, you’ll need to take care of a few things before it’s ready to go, including conducting a complete safety and maintenance review. As a boat owner, you’re responsible for knowing the condition of your boat and its equipment. Knowing and implementing the important safety measures and other recommended tips will help ensure your vessel is ready for a successful launch and a safe and relaxing season.
The expression “an elephant in the room” is readily recognized to mean an uncomfortable situation not talked about but clearly known to all. When elephants make unwanted appearances—at family dinners, social gatherings, meetings—people get uncomfortable and begin to shut down. When this happens, they begin to operate from assumptions and draw conclusions based on their own perceptions. Overtime, these actions may cause family relationships to erode.
All business owners will transition their business at some point in the future. Whether it is a transfer within their family, such as to the next generation, or to an existing business partner or employee, or sold to a competitor or outside investor, transition will occur. Just as successfully run businesses do not happen overnight, transitioning well cannot happen without devoting the necessary focus and intentionality.
Families of significant wealth often own a diverse mix of assets, including multiple residences, less liquid alternative or private equity investments, and valuable collectibles, all of which requires more sophisticated planning. They also have somewhat different emotions about their wealth that can include, among others, fear that wealth can have a corrosive effect on future generations. Because no single advisor, no matter how talented, can serve their diverse needs, working with ultra-wealthy families requires a team approach and a well-integrated wealth management plan.
There are many benefits to involving children in family philanthropy. One of them is the children’s realization of the positive impact their own participation has on the world (no matter how small); another is their excitement about making a difference. For the families who want to pass down the value of charitable giving to their children, there are a variety of ways to engage them on the philanthropy journey and strengthen the family bond.
While wealthy families prefer to pass nearly two-thirds of their wealth to their children, grandchildren and other heirs, they grapple with a fundamental question: Can their wealth benefit their generation and be passed on to future generations while also having a positive impact on those future generations? Experience shows that sustaining family wealth is indeed possible when families begin to see their wealth not only as a series of activities that need to be performed, but also as an enterprise that needs to be managed.
If a premarital agreement is a prerequisite to getting married, doing all you can to ensure that your agreement will be upheld against a future challenge should be your guiding priority. Accordingly, there are some helpful tips—the do’s and don’ts—to consider with respect to a premarital agreement. When thoughtfully negotiated and wisely drafted, a premarital agreement should ultimately satisfy both parties. However, if this is not possible to achieve, other alternatives may be available to provide adequate protection of your premarital assets.