A significant step in the acquisition process is determining the structure of the deal. The two most common deal structures are: (1) the purchase of the ownership interests of the target (such as a stock deal), and (2) the purchase of substantially all of the target’s assets (or an asset deal). In an asset deal, the implication is that the ta...
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As an employer, you may receive a notice from a health insurance Exchange that an employee has applied for coverage and is eligible for a premium assistance tax credit. These Exchange notices—and its relationship to the assessment of employer shared responsibility tax penalties under the Affordable Care Act (“ACA”)—have gene...
The United States presidential election season has certainly been emotionally charged and, in many ways, unlike any we’ve seen in recent history. For many, Hillary Clinton represents the continuation of Democratic policies currently in place under the Obama administration. Donald Trump, on the other hand, represents the potential for a shift ...
As has been the case for several years, the actions of central banks dominate the investment landscape. In the years following the financial crisis, extraordinary monetary policies from central banks around the world, including our own Federal Reserve (Fed), have had an outsized impact on most asset classes. And now, as we say farewell to another s...
While the revolution of the “information age” creates tremendous advantages and helps accelerate innovation, it brings with it new risks—namely cyber attacks. While corporate attacks get most of the media attention, do not forget that individuals—especially the high net worth—need to be vigilant about cyber security. T...
For decades, families seeking advice on how to invest their hard-earned capital were forced to endure “beauty contests” where potential advisors attempted to demonstrate their supposedly-unique skills and/or access to information. More often than not, it seemed families would choose an advisor only to inevitably experience disappointmen...
News reports show large-scale data breaches are on the rise and affecting large retailers and even consumer credit organizations. There are numerous categories of cyber crime, but the ones that affect the most victims include identity theft, credit card fraud, and social networking scams. However, there are actions you can take to better protect yo...
The proverb “Shirtsleeves to shirtsleeves in three generations” is pervasive across many cultures. Why is this the case and how can your family be exceptional in your quest to sustain your wealth? Observations from decades of working with families on this challenge provide seven insights on how families fail to sustain their wealth from...
While many families are expending effort on important concepts such as improving financial literacy, defining family shared values, and creating family mission statements, such efforts are likely to be lost if families do not first focus on one fundamental aspect of a successful family: Communication. Effective communication is an ongoing effort th...
Travis Roy’s story is well known—in 1995, the rising college hockey star suffered an on-ice injury that left him paralyzed from the neck down after only 11 seconds of his first Boston University game. That tragic accident ended Travis’ hockey career, but it marked the beginning of his decades-long commitment to helping others thro...
The topic of wealth transfer to the next generation has been well documented. Accenture estimated that $30 trillion of financial and nonfinancial assets are ready to shift from baby boomers to their children in North America alone. At the same time, there is a large and growing appetite for using wealth to solve social challenges and help those in ...
A great deal of focus has been placed on the next generation of business leaders, beneficiaries, and philanthropists. Rarely discussed, however, is the next generation of trustees that will guide them through so many crucial life decisions. Serving as trustee is a natural extension of an estate planning role, and the next generation of trustees kno...
As we shepherd your assets through life cycles, business transitions, and beyond, there are both obstacles and opportunities when taking a decade-long perspective. Three key themes emerge and are shaping the market landscape: (1) the near-term economic leadership of the United States that will later decelerate; (2) interest and dividends becoming l...
Maintaining a financial and moral investment perspective appeals to both individual and institutional investors, who have been turning to sustainable, responsible, and impact investing (SRI). In fact, SRI assets grew from $3.74 trillion in 2012 to $6.57 trillion or more in 2014, according to The Forum for Sustainable and Responsible Investment. In ...
Recently proposed IRS changes to reduce or eliminate valuation discounts could dramatically increase the transfer tax cost of shifting property to members of your family in the future. The loss of valuation discounts is of significant concern for high-net-worth individuals for whom federal transfer taxes are an issue. It’s possible that some ...