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As an alternative to ETFs, investors are seeing the value of investing in separately managed accounts (SMAs), which offer diversified, index-like, and customizable exposure. However, what does it mean for investors who already hold a basket of appreciated ETFs but would like to unlock the potential of SMAs? This dilemma is explored through a reasonable set of future scenarios to provide guidance on when it might be time to sell and hold.

The treatment of capital gains and taxes become a little more complicated when considering a mutual fund investment. There are two scenarios where a mutual fund investor may end up paying more in capital gains taxes than expected. And the amount you pay may not depend only on you.

For families contemplating a liquidity event, anticipatory pre-liquidity planning can greatly improve tax savings when using Wyoming entities, which benefit from modern trust statutes. A review of some of the strategies and structures—including blind trusts, regulated and unregulated private trust companies, and directed trusts—shows how they can also provide asset protection and retained control with an emphasis on administrative and cost efficiency.

Can a pandemic-induced market downturn become an opportunity for investors looking to modify their portfolios? Learn how constructive changes, including going from ETFs to tax-managed SMAs, can present the best chance to improve overall portfolio health.

Retaining access to the assets in a trust is an important factor, and it can be done by creating a Wyoming Incomplete Gift Non-Grantor (WING) Trust. This one-sheeter provides a four-step overview of the WING Trust entity and transaction structure.

While many are still managing the COVID-19 crisis, post-COVID-19 action plans are starting to take shape. Our discussion focuses on unpacking recent tax law changes and the impact on a family office, including key considerations—such as the sale of business goodwill and trust and estate planning—when deciding the entity choice of your operating business.

Family offices and their affiliated businesses have gone through a number of transformative changes due to the disruptive nature of COVID-19. Many will qualify for COVID-19 liquidity programs. In this discussion, the RSM team focuses on the program specifics and family office considerations, including compensation options and lending provisions.

The IRS is coming out of its silos. Between July 15 and September, the IRS will audit several hundred high-income individuals and one or more related entities, typically one or more pass-throughs. This action will require a coordinated and appropriate response by the taxpayer and his or her advisors and the advisors of the related partnerships, trusts, corporations, and foundations.

While recent years brought concrete wealth planning changes with the latest tax legislation, 2020 sees families and their advisors preparing for the unknown. U.S. presidential and congressional elections will unfold against a backdrop of equally impactful societal changes—including rising healthcare costs, evolving technology, increasingly global citizenship, and mass wealth transfer. This year's outlook explores ways to optimize your wealth planning for changes on the near horizon.