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Being asked to oversee a family trust is a big deal. It’s a huge responsibility, and one you may not feel prepared to accept. Even if you’ve participated in or been exposed to the world of trusts, you may not have the knowledge or skills to be an effective trustee right now. The first step in deciding whether to accept this role is to learn more ab...

While it might seem like a great position to hold a concentrated position in a low-basis stock that has appreciated over time, it poses several challenges related to investment risk and taxes. Here are some charitable options for lowering your risk while doing the most good with your gains, whether that means giving to a worthy cause, gifting to a ...

It’s both a special and critical milestone when your children turn 18. At that age in the family life stage, they become legal adults with many new rights and responsibilities. While there are certain ways to help them get started on ensuring their financial future, there are also rights that you as a parent lose when they reach adulthood, like gua...

Extreme weather conditions such as hurricanes in Florida to historic drought and rains in California are intensifying natural disaster losses both in size and frequency. By having a better understanding of your insurance coverage, you can insure against the risks your property may face—be they wildfires, hurricanes, deep freezes or floods. Even if ...

Given the latest court decisions in Delaware and the Federal Trade Commission’s announcements on restrictive covenants, it’s becoming clear that employers will need to rethink or halt their non-compete restrictions and clauses on employees when it comes to their HR policies and procedures. Although the Delaware Supreme Court has not yet weighed in ...

With the rise of the Tax Strategist, a trend is taking shape past the normal tax planning: Tax leaders who use a strategic approach are becoming key contributors to driving positive business performance. To uncover what’s behind this trend, tax executives were surveyed about their involvement in overall decision-making, as well as their top priorit...

When families gather at their cottages or vacation properties, the senior generation might think how nice it would be for these multi-generational gatherings to continue after they pass. But before designing an estate plan to address the future generations’ continued use and enjoyment of this property, there are two important questio...

Once a family has made a decision to pass the ownership of family cottage or vacation property to the next generation, you will need to give thought to how that ownership will be held. There are basically three options for the form of ownership and use of a cottage by multiple households of a family: co-tenancy, a trust, or a limited liability comp...

The unique and personalized nature of each Family Office can make it challenging to access benchmark remuneration data. Family Offices require a distinct skillset, incomparable to other working environments, and many professionals that Family Offices search to recruit are accustomed to a certain compensation structure. This informative report by KP...

This series of short, educational videos provides an overview of the core elements of investing and some of the asset classes most commonly used in portfolio construction. Download the full presentation deck and explore the educational modules on the topics of interest that include: Setting an Investment Policy and Principles of Portfolio Cons...

In philanthropy, meaningful change is the aim—it’s the purpose and the promise. But in striving for and achieving impact, effectiveness must go beyond healthy funding practices with grantees and the greater communities we serve. It must touch on intra-family dynamics, family philanthropy staff, and speak to the varied stages within the family fivin...

Once you have decided to pass the family vacation property to the next generation, and you have chosen the ownership form you want to use, the last step in preparing for the transfer is to create an agreement that spells out the use and maintenance of the property and governs a family member’s exit from ownership (if that becomes necessary). Learn ...

There are many benefits to establishing and running a family foundation, including strengthening the family bond and developing a philanthropic legacy while creating a lasting impact through charitable giving. In this 10-minute interview, attorney Emmaline Jurgena of Foley & Lardner’s Estate Planning group joins Brian Lucareli to discuss how to...

Private equity faces a crossroads. Looking at a challenging economy, the industry plans to turn its attention inward to current portfolio companies. From this 2023 BDO Private Capital Survey Report, learn where the private equity industry plans to invest capital and create value; how larger and smaller funds are deploying capital differently; ...

Selling a business is a calculated, and often very personal, decision many owners make. Some consider selling due to the lack of a solid succession plan, an unclear path to continued success or a desire to spend time elsewhere. Regardless of why, the ultimate consideration is often around timing and potential valuation. You could be asking yourself...