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When COVID hit, many business owners faced the dire realization that the insurance they paid so much for did not cover the business interruption resulting from the pandemic exposures. To help guard against that type of unexpected disruption in the future, many business owners have set up captives—a lucrative alternative risk financing structu...

For charitably minded individuals, cryptocurrency investments—such as Bitcoin and Ethereum—held more than one year may provide a unique opportunity to leverage highly appreciated assets to achieve maximum impact with charitable giving. By donating cryptocurrency to charity, it can also unlock additional funds in two tax-smart ways. For more insi...

For the charitably inclined individuals and families who are exploring ways to reduce their tax expose and maximize their charitable impact in 2022, there are eight tax-smart tips for charitable giving in 2022.

Digital assets have the potential to start (or perhaps already are) significantly altering the global financial landscape. Find out how and get insights on the why from guest Geron Morgan at BKD. Here's what's covered: Who is Geron Morgan? @00:17Trends in digital assets @01:27Audit considerations @04:05Internal controls and digital ass...

A meaningful wealth planning strategy embodies your vision, hopes, and personality, all to ensure you are financially well situated over your lifetime. By developing a solid blueprint, you can provide yourself and your loved ones with a secure future. First, begin with making sure your foundation is strong, then ask yourself what you are tryin...

The Family Office 5.0 model is changing how advisors deliver services. Strategic partnerships can help family office service providers better focus on delivering core value-added offerings. A roadmap toward that goal will help you meet the evolving needs of family offices and provide best-in-class services.

Three out of four businesses will change hands over the next 10 years. The question is whether this sale and change in ownership will be on the owner’s terms or if the business will fall victim to the four Ds: divorce, death, disability, and dispute. Embracing an exit planning from the early stages of the enterprise lifecycle will help mitiga...

Family offices are often tasked with managing a family’s philanthropy but may have limited knowledge and resources. Several best practices can help both families and family offices lead philanthropic efforts to heighten their impact.

Over the past decade, the Tennessee legislature has taken significant actions to provide a more practical statutory framework for trust administration. With the latest enhancements to the Tennessee's Uniform Trust Code, key revisions include changes to petition for approval of final accounting, discharge of fiduciary liability upon change of tr...

New regulations proposed by the IRS seek to address the basic exclusion amount for estate and gift taxes which was doubled in 2017 under the Tax Cuts and Jobs Act. The doubling of the exemption is scheduled to sunset on January 1, 2026. When this occurs, how can a donor lock in the increased exemption for years 2018 through 2025? New proposed regul...

With the passage of time, the fear-based approach of Wealth 2.0 has evolved to a more positive, strengths-based paradigm. This new approach—the Wealth 3.0—is a call to action for greater professionalism and rigor by the diverse practitioners of family wealth advising. Dr. James Grubman, Dr. Dennis T. Jaffe, and Kristin Keffeler illuminate what need...

While the labor market remains volatile with the persistence of America’s Great Resignation, businesses face novel challenges to make sure they attract and retain the workforce they need to sustain and grow. From the findings in the State of Work in America survey, a number of areas are identified to help companies succeed in the “...

In order to simplify the wealth structure and investment vehicle, many high-net-worth families collectively pool the assets of individual family members to form a legal partnership entity. The resulting economies of scale can lead to significant fee savings, as well as open the door to a larger universe of investment choices for smaller accounts. W...

In Part 1, we explored the potential tax pitfalls of the Tax Cuts and Jobs Act of 2017. In Part 2, we looked at new income tax planning opportunities. In this final Part 3, we look at potential estate planning opportunities and strategies that could result in profound tax savings for your family.

The latest escalation in tensions between the U.S. and Iran, caused by an alleged Iranian attack on an oil tanker in the volatile Strait of Hormuz, adds to a growing list of geopolitical hotspots around the world. With an unpredictable U.S. president that hasn’t confronted a direct military threat and one might conclude it has the makings of ...