This paper will examine ways to lessen six of the greatest risks to preserving and enjoying multigenerational wealth. These six risks are: concentrating your assets, overspending, overusing leverage, poor tax planning, not attending to liabilities, ignoring family governance
Resource Search
A useful checklist for both advisors and wealth owners in preparing themselves for hurricanes
FOX has examined the topic of risk management in our work with families for more than 15 years. One of the most difficult aspects of studying the threats that impact financial families is categorizing the various dimensions of risk that pertain to a multi-generational family situation.
A discussion of pre-nuptial, post-nuptial or cohabitation agreements.
A checklist of things to avoid when taking out life insurance.
Estate-planning advisors should be aware that there are many creative planning opportunities for the use of Private Placement Life Insurance (PPLI) with trusts. PPLI is essentially a flexible premium variable universal life insurance transactions that occurs within a private placement offering. Previously, PPLI hadn’t been as appealing due to lack of Internal Revenue Service guidelines; limited investment alternatives; and wide-ranging expense charges.
Business impersonation scams are a large and growing risk for high-net-worth individuals, closely held business owners, and institutions. Scams have claimed victims in all 50 states and more than 100 countries and there is every reason to believe the threat is growing. Learn seven steps that can help you protect yourself and your business from impersonation and other types of fraud.
Ransomware has become one of the top threats to data stored on company networks and personal computers and will continue to be a top security concern in the coming years. For those unfamiliar with ransomware, it’s a type of malicious software (also known as malware) that, when downloaded to a computer, encrypts files so they can no longer be accessed. Cybercriminals will hold the user’s files hostage until the owner pays a ransom.
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.
Some 90 percent of adults over 65 prefer to “age in place,” and even the need for health or mobility assistance doesn’t change their desire to stay in their own homes. It raises issues not just for Baby Boomers, but for those who are responsible for their transitioning through the stages of aging. The “aging in place” trend has also brought with it significantly more options and risks on the continuum of care. Welcome to senior citizenship, 21st Century style.