In this quarterly update, see the key areas of focus that drive investment returns and the implementation strategies around six themes that include a demand for responsible investment.
The key to success of any risk management plan is the development of an “all risk” approach that takes the entire family enterprise into account. Through a survey of more than 200 family office executives at single and multi-family offices, an uncovering of some worrying approaches has surfaced around the risks that family offices face, particularl...
One of today’s dominant macro-trends is the reversal of globalization—the free flow of people, goods, services, capital, technology, and ideas across national borders. COVID-19 has further accelerated the deglobalization. In this environment, equity investors may have a harder time finding steady profitability and value. Taking a look a...
Although no previous election year had this year’s unique set of circumstances—a global pandemic, an economic recession, the fastest equity market correction on record (and subsequent recovery), multiple natural disasters, and social unrest—there are some insights available when examining the individual effect of each variable. Fa...
Solving disputes among business partners and owners in a privately held business can quickly become complicated matters that end up calling for access to an LLC or corporation’s privileged communications. Only in rare circumstances can there be access to those privileged communications. Most courts apply a fact-intensive test that is dif...
Those with ownership stakes in privately held businesses, partnerships, or family offices need to closely collaborate with and trust others. But when there is a disagreement or dispute, it can create a situation where someone is looking for ways to force out owners of non-controlling shares and seek the advice of the company’s attorney to for...
Business divorces are often messy. The reasons vary—personality-driven disputes, disagreements over business direction, or timing and distribution of earnings. When majority owners seek advice of the company’s attorney to formulate a plan to force out a minority owner, the company expects this advice to be covered by the attorney-client...
The first half of 2020 was marked by a return of volatility to the global capital markets as the fallout from the COVID-19 pandemic rippled across the globe. The market rallied during the second quarter under an aggressive central bank policy, coupled with optimism that economic indicators had bottomed. Turning to the fall period, the landscape for...
The markets moved higher during July and August as cities across the globe continued their re-opening plans after pandemic-induced shutdowns and central banks sustained their support for global markets. However, when September came, the market sentiment turned negative, with most risk assets posting losses. Still, the third quarter was so...
Many companies were caught off-guard in the spring when diagnoses of COVID-19 multiplied rapidly and forced businesses to close or drastically change their policies with little warning. Now companies that have reopened must prepare for the future, as resurgences may occur at any time in different parts of the country. In preparation for future infe...
There are policy changes and new procedures that companies—including family offices—should consider when reopening amid the COVID-19 pandemic, particularly given the increase in cases in many parts of the country. But companies cannot change policies in a vacuum. Instead, they must clearly and effectively communicate these changes to em...
Business closures have been immensely difficult for companies of all sizes during the COVID-19 pandemic. But reopening is proving difficult, too, especially given the ever-changing nature of the pandemic. As cases have surged in new parts of the country, businesses have been forced to reassess their operational plans in both the near- and long...
New tax legislation is most likely to happen if next year the Democratic Party controls the Senate, the House of Representatives, and the White House. Now is the time to develop a contingency plan that can be implemented depending on the outcome of the U.S. election. Planning strategies that can be customized to the needs of each family are availab...
It’s time to consider year-end planning for a year that has been an unusual one, with taxpayers experiencing losses due to the economic downturn and the possibility of higher income tax rates next year. Consequently, it’s time to rethink the traditional year-end advice of deferring income and accelerating deductions to minimize one&rsqu...
For high-net-worth individuals, establishing an incomplete non-grantor (ING) trust is a useful planning tool that provides income tax benefits to grantors residing in states with high state income tax rates or states that do not recognize the federal grantor trust rules. There are several steps to properly structure an ING trust, and it begins with...