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In early April 2016 files leaked from a large Panama-based law firm (known as the ‘Panama Papers’) brought to the attention of many the ways in which offshore companies and structures can be used to obscure the identity of beneficial owners, some of whom have used such entities to avoid paying tax in their country of tax residence. Now ...

Even though a trust may be established under the laws of a US state and have a US trust company serving as trustee (hereinafter a ‘US-based trust’), this does not mean that it is a US domestic trust for income tax purposes. If non-US persons make substantial decisions for the trust, the US-based trust will be classified as a foreign tru...

Private trust companies are not a new phenomenon. Rather, over the past 25 years, they have increased dramatically in number, with hundreds of major, family-controlled trust institutions now operating in the United States. This article addresses why the number of private trust companies has been growing; describes a typical private trust comp...

The past 20 years’ exceptional wealth creation will soon be followed by the biggest-ever wealth transfer. It is estimated that fewer than 500 people will hand over USD 2.1 trillion to their heirs over the next 20 years. For most Asian economies, where over 85 percent of billionaires are first generation, this will be the first-ever handover o...

As with many of your possessions, the value of jewelry is not simply monetary. Individual pieces often hold significant sentimental value: a tennis bracelet gifted to mark the birth of a child or an heirloom brooch passed down from a grandmother, for example. These are irreplaceable, so taking the proper steps to secure and protect them is critical...

Individuals and families that manage their wealth wisely tend to take an active role in doing so. Rather than leave everything in the hands of an advisory team, they make sure they’re knowledgeable about the key factors affecting their wealth. This entails understanding various legal, financial, and regulatory issues, as well as the economic ...

What if Trump trumps Clinton in the U.S. Election? With just a few weeks remaining, the markets have not meaningfully priced in the chance of a Trump presidency. While indeed this is not the base case scenario, the outcome of the election is sufficiently unclear that serious consideration should be given to the potential impact of a Trump victory o...

For eight years the Federal Reserve Bank has held interest rates abnormally low. The Fed's dual mandate of moderating unemployment and inflation seems to have morphed instead into keeping stock prices high. That has helped Wall Street tremendously but has punished the average person saving for retirement. What we need now is economic growth, an...

In this quarterly investment insights report—“The Economic Case of Dr. Jekyll and Mr. Hyde”—is an examination of the uncertainty in the financial markets. It identifies and delves into key themes for investing in the current environment. The main concerns for investors revolve around the rising U.S. dollar, monetary policy c...

Some 90 percent of adults over 65 prefer to “age in place,” and even the need for health or mobility assistance doesn’t change their desire to stay in their own homes. It raises issues not just for Baby Boomers, but for those who are responsible for their transitioning through the stages of aging. The “aging in place” ...

In this quarterly edition of the CIO Insights, the analysis is on the economic consequences of government policies, assessment of risk and uncertainty in financial markets, and a focus on generating returns in a low-growth world. There is also a look at renewed confidence in emerging markets, as well as a summary of our economic and market forecast...

The October 2016 Market Review outlines the market highlights and gives a summary of current events (such as employment housing updates, geo political events and meetings) and their impact on the markets and asset classes. Highlights include economic growth accelerating at its fastest pace since the 3rd Quarter of 2014, expectations for December Fe...

In this edition of Tax Topics, the focus is on the IRS release of the 2017 inflation-adjusted numbers, along with planning points to keep in mind for both year-end and in general. It also has the November 7520 rate and applicable federal mid-term rates.

The earth faces a tremendous challenge when it comes to water due to the supply and demand imbalance, the lack of substitutes, and the United Nation’s declaration that drinking water and sanitation are a human right. Investors are also increasingly focused on water-related challenges, recognizing the market’s potential to provide soluti...

There are many reasons to accept a position on a board of directors or as an officer of a company. The cause may appeal to you or you may see this as a way to give back to the community. You may derive additional compensation from this type of position, or it could be an honorary position. Whatever the reason, it is important to remember that with ...