Entities that do not satisfy the conditions of the new Family Office Rule may continue to operate as a family office until March 30, 2012, when they must register with the Securities and Exchange Commission or change their operations to qualify for exclusion from registration.
In addition to significant savings, cloud computing offers on-demand availability, flexibility and scalability. However, cloud computing is not without its risks. Concerns about the security of data storage and applications in the cloud evidence the need for businesses to protect intellectual property, personally identifiable information and other ...
This white paper examines the need for family office reporting and types of reporting, the challenges in providing such reporting, how to design a reporting framework, the effects of the recent financial crisis and impending securities legislation, typical versus best practice reporting, the role of technology, and outsourced reporting solutions.
The 2010 Tax Act reinstated the gift, estate and generationskipping transfer taxes that were repealed earlier in 2010. The reinstatement comes with increased transfer tax exemptions and favorable rates for 2011 and 2012. Consequently, the opportunity for making new or additional gifts to trusts has never been more favorable.
The FTC is seeking input on this report, which proposes safeguards for data gathered online and offline from consumers. The three main areas addressed are privacy by design in all business practices, simplified privacy choice for consumers and greater transparency related to company data policies.
As the financial world grows increasingly integrated and jurisdictions share ever more information, taxpayers who continue to hold undeclared taxable accounts are at much greater risk of being discovered. The new voluntary disclosure program may represent the best chance to come clean with the IRS.
The author explores the advantages and disadvantages of the outsourced CIO model relative to non-discretionary models and suggests how investors might think about choosing between the two models.
Family offices should develop an understanding of the requirements for health care benefit plans, implement the requirements on a timely basis and then continually monitor ongoing compliance.
Examining the impact of their behavior on the family client gives family office professionals insight into how to enhance their relationship with the family; it also highlights some of the ways in which their behavior may lead to unintended consequences.
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 the...
Private investment firms that can differentiate themselves by demonstrating an infrastructure that includes complete partnership and portfolio accounting, system-enforced controls and full transparency while being able to manage complex portfolio strategies, ownership structures and allocations have a significant advantage in growing their business...
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.
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 ...
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.
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.