A family office and advisor team working in the best interest of the family first and foremost requires (1) working with and depending upon multidisciplinary colleagues, (2) collaborative management of the practice areas with appreciation for pragmatic give-and-take resulting in a better overall plan, (3) recognizing that team members are not ...
It’s the Fourth Quarter for corporate trustees who are burdened with the decision of how to implement the final regulations under Section 67 issued by the IRS last May. These regulations, govern the costs incurred by trusts and estates that are subject to the 2-percent floor on miscellaneous itemized deductions under Section 67. The regulatio...
The fixed income environment is changing, and as a result we believe opportunistic fixed income strategies with the flexibility to go anywhere are better suited to today’s market realities than traditional, duration-heavy core holdings. But because these strategies come in different shapes and sizes, we think it is important for investors to ...
The tightening of regulations around the world is prompting banks to offload a variety of financial assets onto the capital markets. Investors are aware of this opportunity. However, we think that many hold misconceptions about it because of the opaque nature of the disintermediation process, and the unfamiliar and heterogeneous nature of the asset...
Many business managers include arbitration provisions in their companies’ contracts. The prevailing philosophy being that arbitration is preferable to traditional litigation via the court system because it’s private, speedier and less expensive. Under certain circumstances, however, a party may prefer to litigate a particular dispute in...
“Internet message boards and review sites provide a venue where users- customers and pretenders alike- can offer anonymous evaluations and judgments about restaurants, hotels, medical and legal professionals and businesses," says Mitchell L. Marinello, a partner with Novack and Macey LLP. "Unfortunately, sometimes these reviews cros...
If your organization still doesn't have a social media policy, it is time to create one. "Every organization should have a social media policy that enables it to optimize the opportunities that interactive social media sites present while minimizing the attendant risks," says Kristen Werries Collier, a partner with Novack and Macey IL...
"A surprising number of us who work with business organizations or professional service firms - in offices that are otherwise orderly - let emails just pile up in our inbox, sent folder and trash bin," says John F. Shonkwiler, a partner with Novack and Macey LLP. "Don't do this. It is not a smart business practice and, if your co...
Edelman, the multi generational family owned communications specialist has released its latest research into Family Businesses and the loyalty & trust they command. This research examines the prominent paradox that has arisen in 2014, namely that while family businesses are highly trusted, the wealth they generate is criticized.
This document outlines 12 of the most common questions posed by couples prior to engaging in a prenuptial agreement.
Finding the right insurance partners can be daunting. This paper highlights the various roles and responsibilities required to protect a financially successful family. From internal staff and external risk consultants to insurance brokers and carriers-these insights can help you evaluate each team member and build a highly effective team to best pr...
This paper highlights the complex risks faced by multi-generational families and demonstrates how proper risk management can successfully protect their wealth for future generations.
The UK has delivered a remarkable cyclical upswing over the past year; with GDP growing at an average pace of over 3% annualised growth for 5 quarters in a row. This has been the result of extraordinary policy support both on the monetary side (low base rate policy and quantitative easing) and fiscal policy (smaller fiscal drag, Help to Buy scheme)...
Investment advisers often contract with subadvisers to obtain special investment expertise and sometimes outsource important operations or compliance-related functions to service providers. Outsourcing often provides cost-effective solutions but comes with its own compliance obligations, notably initial and on-going due diligence.
Employee Stock Ownership Plans, or ESOPs, have been used as succession planning tools for family-owned businesses for 40 years. Ownership succession planning is critically important in a family-owned business. There are many issues to review in succession planning and an ESOP should always be considered. An ESOP may be the ideal solution for the co...