Even for families with generations of addiction, it is possible to achieve sustained recovery and secure the family's finances. Finding the right help for those of wealth and prominence requires persistence, knowledge and professional cooperation with proven, reliable treatment programs.
Preserving family stories is as valuable a legacy as passing on material possessions. This white paper discusses the various media that families can use to preserve precious memories and other elements of their histories. In addition, the paper offers professional guidance for undertaking such a project.
Most parents strive to give their children a solid education. Yet among some wealthy families, one area of schooling could use a little more parental TLC. It won't lead to a diploma or show up on anyone's curriculum vitae. But without a solid understanding of their family's wealth, some members of the next generation may be ill-equipped for it.
The most intractable conflicts that arise in business-owning families occur when parties support their opposing positions by reference to histories that contradict each other in essential points. Here is a method of using the shared core of opposing stories to maintain reasonable discussion of primary, must-solve issues while not allowing the myria...
While each stage of life presents its own opportunities and challenges, the similarities in the paths individuals need to follow to meet their health and wealth goals are unmistakable. By adopting a holistic approach that includes prevention, proactive planning and professional advice, individuals will be on their way to ensuring a healthy and rewa...
The client/manager relationship can develop into a very personalized helping process. However, few managers are adept at directing their clients to use other, more appropriate resources or know how to divert or avoid personal topics with clients. The result is ineffective help for clients and personal and financial cost to families and family offic...
No asset class, except government bonds, has protected investors from the credit crisis. But that does not mean diversification has failed investors, according to this analysis by Barclays Global Investors. The authors explore investors' flight to quality as a risk factor affecting current returns and explain why investors should diversify across t...
A new market analysis from Fortigent LLC assesses international currency trends and offers recommendations for sophisticated investors looking to mitigate risks to their portfolios over both short- and long-term time horizons.
Life insurance policy owners should avoid projecting today's economic environment into the future, causing them to choose products that lock in long-term mortality and interest rates. A new paper from Pelagos Advisors says such a move not only ensures long-term underperformance but also sacrifices the flexibility to take advantage of conditions as ...
If they are to weather future market changes, trusts need to be revised or developed using more candid projections of economic conditions. A report from U.S. Trust offers suggestions to improve the effectiveness of trusts, such as assessing portfolio potential more frequently, including probable tax increases in projections and setting distribution...
Companies that manage their people, or talent, successfully are in good position to weather volatile times and emerge in better shape than ever. Deloitte offers suggestions beyond downsizing to align short-term budget-trimming needs with companies' long-term personnel strategies and overall business objectives.
Despite its challenges, the current economic environment offers opportunities that can benefit family-owned businesses. This article from the Beringer Group encourages family businesses to consider the possibilities that may exist in acquisitions, corporate restructurings, internal buyouts, succession planning and estate planning.
Family businesses are perceived as having endemic problems, such as governance and succession issues, but their strengths – long-term perspective, stable leadership and strong identity – can give them a competitive advantage. This report from Barclays Wealth examines how family businesses are faring in today's challenging economic, financial and op...
All offshore trust companies with any UK nexus should consider their UK exposure and the position of their trusteeships given the extremely detrimental tax effects that can arise through a determination of UK fiscal residency. The guidance also is very relevant, Withers says, in the context of private trust companies with UK resident directors.
There are significant changes in the taxation of non-UK domiciled individuals. This question-and-answer document from KPMG LLP provides a quick overview of these changes as well as the impact on those affected.