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Building and managing a portfolio is a continual process that involves numerous decisions. But none of those decisions is more important than how to allocate your wealth across different asset classes. By developing and implementing an asset allocation strategy that fits your particular goals and situation, you can achieve meaningful diversifi...

With the signal of a looming recession, forward-looking employers are preparing for a change in course regarding labor challenges. Taking steps now to prepare for the possibility of future workforce reductions will help companies lower their legal risks. Understanding the nuances of the WARN Act, proper documentation of performa...

Unlike trustees, who have very specific fiduciary duties spelled out for them in our trust laws, beneficiaries don’t have much guidance to help them in the role of beneficiary. Our answers to these frequently asked questions should help provide guidance on how to be a good beneficiary and your rights as a beneficiary under Michigan law.

When it comes to selecting trustees, families often choose family members to serve in this role. However, if you agree to serve as a trustee, you become a “fiduciary” who must understand all of your fiduciary duties and perform them all. This is vital because even if you do not understand your duties, you can still be held liable for violating...

To effectively serve as a trustee, it's crucial to understand your fiduciary duties. Even trustees with the best of intentions can create liability for themselves by being unprepared for the job or by not fully understanding their obligations. Learn more about some of the common mistakes family trustees make that can lead to lawsuits and other...

Establishing residency in a state with lower tax rates can result in significant tax savings for some individuals and trusts. But changing residency is not as straightforward as it might seem. Additionally, states have become aggressive in challenging residency changes to avoid losing out on tax revenue. This paper reviews the residency rules ...

Against the global macroeconomic backdrop, there are pockets of investment opportunities—in particular, metal exporters in the frontier markets space. That's because regulation and consumer preferences are creating demand for clean transportation, which will drive strong growth in the metals of the future: copper, aluminum, nickel, cobalt...

When selling a business, owners often focus on closing the deal. An additional focus on personal wealth planning opportunities could result in significant savings on income, gift, and estate taxes. This planning checklist outlines the key factors to consider.

The New Inflation Reduction Act (the "IRA") was passed with a simple majority vote in the U.S. The IRA would raise approximately $450 billion to pay for deficit reduction, clean energy, and climate investments. Many of the original provisions that would have had significant impact for high net worth individuals have been stripped, includi...

Employing service providers in your home carries considerable risk. If not handled with extreme care, the process of hiring, termination, and managing day-to-day responsibilities can create liability—and even result in claims of discrimination and retaliation by the employee. This report provides a snapshot of an increasingly complex employment lan...

The college admissions world is constantly changing. In this webcast, Lindsay and Olivia of LogicPrep discuss recent admissions trends, the different types of test-optional policies, and what parts of your application matter most to colleges right now.

Whether the goal is to improve a local community or support a more far-reaching cause, charitable giving is an important goal for many investors. From donating cash to establishing a donor-advised fund or a private foundation, there are a variety of ways to support the causes that matter to you. If deciding between establishing a donor-advised...

On August 24, 2022, the California Attorney announced a settlement with Sephora, Inc. that included a fine of $1.2 million for alleged violations of the California Consumer Privacy Act (CCPA). The settlement is important because it makes clear that the use of analytics, advertising cookies, and other automatic data collection technologies are ...

Many family-owned businesses feel like a recession has started already, due to rising material and energy costs, continued labor shortages coupled with wage increases, and other factors. Whether heading towards a recession or not, companies should consider a combination of internally focused cost cutting and operating improvement measures, as well ...

High-net worth individuals are not immune to concerns around economic slowdowns. While the first half of 2022 may go down as one of the worst starts for stock and bond markets in history, it has also presented unique opportunities for long-term investors. With sound investment strategy and financial planning, investors can protect and grow&nbs...