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In response to representations made since the Pre-Budget Report, HMRC announced that the draft legislation released in December and, in particular, the definition of a "bank" did not actually reflect their intentions and that the legislation will be substantially amended in this regard. Withers Worldwide provides a summary of the amendments and their future implications.

Long-term care insurance, a meaningful solution to the long-term care risk exposure facing the ultra-wealthy, also can be a flexible and economical employee benefit, particularly in light of its statutory classification and tax treatment.

The client/manager relationship can develop into a very personalized helping process. However, few managers are adept at directing their clients to use other, more appropriate resources or know how to divert or avoid personal topics with clients. The result is ineffective help for clients and personal and financial cost to families and family offices.

A contingency plan helps ensure that a single or multi-family office is prepared to deal with a disaster effectively, minimizing any financial loss, reputational damage, irreparable damage to fundamental operations and legal liability. Such a plan should address continuance imperatives in three fundamental areas: personnel performance, business processes and critical technologies.

Effective collections security is the application of general security practices centering on concentricity, redundancy and reliability. Ultra-wealthy collectors are wise to examine the relevant work experience of prospective vendors to determine both their credentials and their ability to protect valuable items.

Hiring domestic staff can mean dealing with a shortage of qualified candidates, increased regulations, security and privacy risks, and exposure to liability and litigation. This white paper offers simple, practical steps for ultra-wealthy families who need to hire, retain and terminate staff.

Evaluating and purchasing a capture device begins with a careful assessment of needs. This paper provides guidance not only in determining those needs but also in calculating the return on investment and total cost of ownership of converting paper documents to digital and incorporating them in an enterprise document management system.

Good e-mail management involves adequately capturing, categorizing, indexing, storing and protecting business information contained in e-mails, making it retrievable when needed and disposing of it according to company policies. Implementing an email management system for your company means doing some homework, but careful planning and preparation will lead to success.

The family office integrates many diverse components – taxes, philanthropic giving, trusts, personal services, property management and legal matters. A carefully chosen document management system can streamline these many pieces and reduce the overall cost of doing business.