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For insights on integrated wealth planning, this issue of The Advisor presents a view from the top with Joe Kahn, The New York Times Managing Editor, the impact of globalization 2.0, and the U.S. presidential election 2016 and the candidates’ tax platforms. Also in this issue are the best practices in providing age-appropriate transparency when it comes to discussing a family’s wealth plan. Following it is the takeaway on the advantage of Delaware’s laws on directed trusts.

Asset protection follows the continuum of life’s events, reflecting the changes that individuals, families, careers, businesses and wealth undergo. Within the wealth spectrum, a simple way of thinking about asset protection strategies is from lower risk and simpler tactics to higher risk and more complex and sophisticated tactics. This approach will cover everything from how assets are owned and titled to how they’re insured and protected against risk to how they can be held for efficient asset management.

The wealth management industry is constantly reinventing itself, and with every passing year, firms continue to push software vendors to deliver features and functionality that not only enhance their existing solution but offer an unparalleled experience. It is often difficult to know which innovations are relevant and which are not. Having a guide outlining the seven technology innovations can help members of the wealth management industry make more prudent and educated decisions regarding their technology solutions.

Purchasing a wealth management technology solution is a significant business decision for your firm. You have likely been tasked with sourcing a platform that meets the needs of your principals, your team and your stakeholders. The solution should support your internal accounting, investment management and reporting functions while streamlining your firm’s day-to-day operations. As an executive, where should you begin? To assist you in the research, there are more than 50 questions to help guide through the process of finding the right solution for your firm.

In May 2014, FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), changing the way revenue is recognized. As of January 25, 2017, the FASB has issued ASUs to revise and clarify the guidance on the original Topic 606. In accordance with the core principle of Topic 606, there are five key steps to consider. Virtually all entities will be affected to some extent by the new guidance.

Wealth does not build itself, but it can be built, nurtured and preserved—not just for you and your generation, but for generations to come. In an unprecedented study into the insights of wealthy families, clear evidence of new wealth management strategies has emerged. There are signs of more inclusive decision-making within the family. Many are looking beyond the balance sheets as they redefine what success means to them. And, importantly, they’re relying more and more on their business acumen to adopt a systematic approach to wealth management.

In moving past the “shirtsleeves to shirtsleeves in three generations” adage, advisors in the family wealth space are emphasizing the importance of the family’s qualitative capitals that go beyond serving only the financial capital goals. This shift has elevated the family client experience and expectations. It’s part of the Wealth 3.0 movement that brings with it a refocus on the different goals of various family types, the importance of qualitative capitals, the evolution of family governance, and the human capital of legacy families and the rising generation.

Generally, parents lose access to their child’s health and financial information once the child becomes a legal adult at the age of 18 unless certain steps are taken. To this end, here is a list of seven essential legal documents for parents to complete when their children turn 18 and before they go to college or leave home for other pursuits.