Whether you and your family split financial responsibilities or delegate them to one person, it is critical for your family members to have access to all your financial information. Use this guidebook created by Northern Trust to detail the location of important documents, accounts, and plans. Designed as a fillable and easy-to-update resource, it will guide your wealth planning discussions and help you gain an understanding of what you own and what you owe, develop a plan in case of an emergency, and understand how your wealth transfer plans will be fulfilled.
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In times of significant change, it is easy to become paralyzed by uncertainty and indecision. However, such changes are inevitably accompanied by new opportunities. In this Wealth Planning Outlook, insights—and action items—are provided on the most vital planning issues amid epochal technological innovation in artificial intelligence (AI); an uncertain, though in many ways familiar, political, and tax landscape; and rapidly evolving attitudes on the greater meaning of wealth and legacy.
Effective tax and wealth planning can be a challenge, especially when there is a possible recession, elevated inflation, rising interest rates, and geopolitical strife. With this guide, you have the planning information and resources to help you make the right moves to plan for your family’s future and manage your wealth. In addition to insights on a myriad of tax issues and policies, this guide also covers topics related to setting up and maintaining a family office, charitable giving, crossing U.S.
For families with substantial diversified portfolio investments, costs are an important consideration when devising an overall wealth management strategy. While there are a range of cost estimates drawn from real world examples, each family’s wealth management cost formula is different when analyzing it through a framework and analysis of four parts: the evaluation of costs; factors that can cause costs to fluctuate; key questions to ask when evaluating wealth management costs; and best practices.
Historically, beneficiaries learned of wealth transfer plans only after the death of the grantor. However, this approach often leads to unanswered questions and, potentially, feelings of betrayal when expectations for future gifts are left unmet. There are several planning tools, including a Statement of Wealth Transfer (SOWTI), that can facilitate a more harmonious and purposeful transfer of both wealth and family values. From this workbook with sample approaches and thoughtful questions on defining wealth and the role of trusts, learn how to develop your own SOWTI.
FOX shares what’s on the minds of members including a summation of the many transitions impacting families of wealth. What will your role be during this critical period of transformation? The skills you need to gain to support your clients are addressed throughout the forum. David Toth, Managing Director, FOX Glen W. Johnson, President of Membership, FOX
Sharing, documenting, and preserving family narratives are an important part of wealth planning and governance. This session explores how family histories can set a foundation for connection and continuity.Karen McNeill, PhD, Managing Director, Family History, Ascent Private Capital Management of U.S. BankModerated by Scott Winget, Enterprise Market Leader, FOX
Join FOX as we kick off the forum by identifying what to pay attention to in the global markets, including the impact of the ongoing Russia-Ukraine conflict and other geopolitical events. Opportunities and key components to watch out for in relation to privates, publics, and broad asset class exposure will be shared.Timothy F. McCusker, FSA, CFA, CAIAPartner, Chief Investment Officer, NEPC LLCIntroduced by Miguel López de Silanes Gómez, Market Leader International, FOX
Panelists will discuss common transitions impacting ultra-high net worth families and their family offices that often trigger portfolio changes. The discussion will center around the why, the how, and the final results. Everything from changing priorities to renegotiating debt to managing the expectations of future generations, will be discussed.