In light of the high conflict nature of many divorces, and the cost and time associated with divorce litigation, many couples attempt to pre-plan for the possibility of a later divorce by executing a pre-marital agreement. The past, present and future of pre-nups and post-nups highlight a process that attempts to minimize a couple's stress during the planning and negotiating phase prior to a marriage while affording both parties future protection, security and predictability in terms of the outcome.
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A much anticipated and, perhaps, over-hyped news conference rolling out the Trump Administration’s tax reform plan generated very little “new news.” Treasury Secretary Steven Mnuchin and National Economic Director Gary Cohn presented an outline of a plan that is very similar to the talking points the President promoted on the campaign trail. Perhaps the most interesting tidbit of information from the 23-minute briefing was a change in the Administration’s proposal for the treatment of itemized deductions for individual taxpayers.
The stock market abounds with colorful sayings that reflect the collective wisdom of decades of investment experience. For professional investors, these time-worn adages are reminders of sometimes-painful past market episodes and the unending challenge of getting the future right. But at the end of the day, can these slogans actually be useful in making investment decisions? Yes, but the best investment strategy is one that incorporates reasonable expectations for future market returns and establishes guardrails to avoid being swept up by the emotion that inhibits investment success.
Nearly all investment professionals rely upon portfolio optimization techniques grounded in Modern Portfolio Theory to structure investment portfolios for individual investors. Using statistical techniques and computer-assisted modeling, investment advisers are able to combine different types of assets such as stocks, bonds, cash, real estate, and hedge funds to create portfolios that claim to offer the best possible return for specified level of risk, or to minimize the amount of risk an investor must assume to achieve a specified amount of return.
Ask a wealth management colleague to define “the cloud” and you are likely to get a vague response. Even among information technology experts, the term “cloud” may refer to different technologies that are only connected in a general sense. And despite the fact that cloud computing has quickly become the IT norm, the question remains: Is the cloud secure enough to support a wealth management firm’s critical company information and workflow? The truth is, not all clouds are equal, in infrastructure and in management.
When a loved one dies, there isn’t a checklist of tasks to complete to expedite the grieving process. When you have been named the Executor (or “Personal Representative”) of the estate, you have an administrative process to navigate in addition to the emotional one. Thankfully, in that role, there are a finite number of actions that are involved, and plenty of places to turn for guidance.
In a competitive global marketplace, employers across the United States spend countless resources attempting to set themselves apart and claim their share of available business opportunities. Against that backdrop, it is easy to understand why employers will do everything possible to protect the confidential information they have created and the goodwill they have built with their customers. Employees are a critical element in building that success, but they can also be well-positioned to undermine such efforts when a relationship turns sour or where they are courted by a competitor.
In May 2017, the House of Representatives passed the American Health Care Act (AHCA). Although at this point it is just a bill and not the law, the House bill provides insights into what the future may hold for employer plans. If the bill is passed, there are ten key points that impact employer-sponsored benefit plans, including modified continuous coverage requirement for pre-existing conditions, cafeteria plan changes, and elimination of additional medicare tax.
Every family has its own reasons for establishing a private family trust company (PFTC) which can be structured to suit the family’s needs and desired goals. When deciding whether to establish a PFTC, there are several important issues to consider. Taking an in-depth look at these considerations—including capital requirements, regulatory burdens and costs, family participation, long-term governance and succession, and trustee latitude—can help a family decide if it should create a PFTC and make it part of their long-term wealth planning.
The Board of Directors plays a pivotal role in the effective governance of the private family trust company (PFTC). They are responsible for overseeing management, providing organizational leadership, and establishing core corporate values. Board members fulfill these responsibilities, in part, by holding regular meetings that utilize a comprehensive agenda. Following ten suggestions to developing an effective agenda will permit adequate time for presentation and discussion of material issues, and in turn lead to more productive, efficient and educational Board meetings.