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The compensation structure for advisors is evolving from a commission- and transaction-based system to a fee-based, asset management framework that is seen as a mutually beneficial transition for clients and advisors. However, the traditional value proposition for many advisors has been primarily based on their investment acumen and their prospects...

Interest in various forms of impact investing has been growing, but the array of terms—ESG, SRI, Green Bonds, and Engagement—in this area has contributed to investor confusion. The decision on which form is right for the investor depends on a number of factors, including the investor’s goals, beliefs, resources, and preferences. T...

Despite the euro's flaws in its initial design, it has become the largest international monetary union in history. Although the risk of a euro breakup exists, this does not warrant a radically new investment strategy, as concerns about the euro are likely already reflected in asset prices. Based on analysis of current developments and of previo...

Katherine Lorenz, President, Cynthia and George Mitchell Foundation, talks about how a childhood drawing of a cloud inspired her perspective on what it means to be a philanthropist—and how giving sparked discussions about lived experiences and issues around the world. She also shares the special role philanthropy plays in her family rel...

Taking cues from entrepreneurs, families with great financial wealth would be well-served to create environments where their children can fail and in doing so, learn invaluable lessons about finance and resilience. While the older generations may set the tone by sharing their own stories about overcoming adversity, the rising generations will learn...

Wealth may be structured to either protect assets or make them harder to reach by creditors. While fraudulent conveyance with respect to existing claims is an unavoidable risk, steps should be taken sooner rather than later. Understanding the various asset protection techniques that are typically used and the “fraudulent transfer” rules...

One of the most significant hurdles in structuring a suitable debt workout or restructuring arrangement between a lender and a borrower involves the negative impact of U.S. income taxes on the borrower, particularly if the partners have conflicting objectives in terms of their tax position. Various options are available to partners when making elec...

Despite the easing of estate taxes on many taxpayers, many family-held businesses continue to be burdened with large potential transfer taxes. Using a real-life story of one family business, we show how the family successfully addressed this problem. While the names have been changed, and the figures and structure have been simplified, the example ...

Reviewing the changes to the Tax Reform law from the lens of tax-efficient giving, it's clear it created some philanthropic winners and losers for the next few years. With the elimination of the phase-out of itemized deductions, donors who itemize can take advantage of the full amount of their charitable gifts, subject to Adjusted Gross Income ...

Stories that are passed down from generation to generation are a way to create a family legacy that will be remembered long after we are gone. These stories are precious in understanding who we are and where we came from. Too often, the people who hold the keys to family stories lose details to memory loss or pass away before their histories can be...

International travelers are vulnerable to a wide range of risks, including political unrest, natural disasters, and medical emergencies. The financial impact of these events on travelers can differ considerably—especially those who are not adequately prepared. Following a checklist of basic practical steps will help you and your families prep...

By temporarily increasing the federal exemption from $5.5 million to $11.18 million for the gift, estate and generation-skipping taxes, the Tax Cuts and Jobs Act of 2017 (the “Act”) has created estate tax and income tax planning opportunities as well as traps for the unwary. In this multipart series, we explore all of these in depth. Fi...

Every year, thousands of property owners and their families are affected by natural disasters such as flood, fire, earthquake, tornado, wildfires and windstorms. In 2015 alone, there were 10 weather and climate disaster events with losses exceeding $1 billion each across the United States. These events included a drought, flooding, severe storms, w...

A host can be held liable for injuries caused to a third party if an intoxicated guest causes a car accident. If guests are injured on the premises due to hazardous conditions, the homeowner can be held liable. Such incidents may include slipping and falling on icy walkways, uneven floors, or broken staircases. When hosting a social event, followin...

Each year thousands of property owners and their families are affected by natural disasters and the financial damages can be devastating. Although it may seem there is very little that can be done to prepare against a hurricane, there are practical steps before, during, and after the storm that you can do (or not do) to protect yourself, family, an...