While the large federal exclusion may mean that many people no longer have federal estate tax issues, they may still have state estate tax issues. The challenge is balancing the desire to mitigate estate taxes with maximizing a basis step-up for appreciated property at an individual’s death. Put differently, planning has gotten harder, not easier!
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The December issue of CIO View includes key economic indicators and articles:
The dollar is worth significantly more now than a few months ago. Relative to the currencies of major trading partners, the dollar has surged nearly 6 percent since summer.
The start of the 21st century saw the emergence of a global industry of family office and family wealth practitioners. Undoubtedly, this industry existed in previous centuries, but never on the global scale of recent times.
This study describes both short-term and long-term expectations for population growth and trends, and the impact these macro-factors will have on the global economy and the resulting investment implications.
As a student, Adam Braun, was inspired by a film to travel to developing countries to see poverty firsthand. In India, he asked a boy he encountered what he wanted most. The reply stunned him: "a pencil." Braun gave the boy his pencil and never forgot how his face lit up. He returned home with a goal of starting an organization to raise money to build a school overseas. Since 2009, Pencils of Promise has partnered with communities and governments to build 206 schools in Latin America, the Caribbean, Africa and Asia. It also trains teachers and covers other school costs.
The Sackler family has been a multi-generational investor in hedge funds for over 20 years. They recently transitioned a portion of their portfolio from traditional limited partnership structures into liquid alternatives, also known as alternative mutual funds or ’40 Act vehicles. Are these vehicles the truest form of innovative disruption the hedge fund industry has seen in decades? In partnership with the family’s long-time liquid alternatives consultant, Brad Balter and his firm Balter Capital Management, they think this is precisely the case.
As the economics of professional sports evolves, ownership of a franchise as a general or limited partner presents a unique investment opportunity. Chuck will facilitate a multi-disciplined panel with extensive experience in buying, selling and operating a professional sports franchise. The panel will discuss the legal and financial issues potential owners should consider when contemplating an investment, particularly from the point of view of a private family.
The new era of enterprising families will be characterized by an unprecedented transfer of wealth that is currently underway and will continue to escalate over the next twenty years. Unfortunately, not much has been determined about how these new recipients of wealth will actually engage within an existing family management wealth framework.
In this paper, consequences of globalization are examined. Workers from the US are facing a global labor market. Pressure on high-quality tangible assets is continuing to build. People are moving out of subsistence poverty at the fastest rate in history, creating a rapidly growing mass market for affordable tangibles as well as the most sought-after rarities.