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Cloud computing continues to transform the way businesses work. But not all clouds are equal. We’ve collected the key features of cloud computing for family offices into a straightforward checklist and added explanations of what they are and how they matter to family offices. We’ve also highlighted what to look out for when ...

Sidney Reso, president of Exxon Company International, was kidnapped from the driveway of his home and ultimately murdered in 1992. Edward Lampert, one of the nation’s wealthiest investors, was kidnapped in the parking garage of his offices in 2003 and was released after promising $5 million to his kidnappers. These are only a few examp...

The volume of information in businesses is doubling every two years, creating significant challenges for businesses of all types and sizes, including family offices. Besides the cost of storage, the information in records and data can pose risks that may surface in audits and litigation. One way to successfully tame the rising tide, is to implement...

Some data security disasters make news because they involve household names -- Target Stores, Sony Online Entertainment and Home Depot, among others. While other data breaches make headlines because they reveal embarrassing information -- e.g., Ashley Madison. But that does not mean that family run offices, which may be less well-k...

Perhaps related to unsettled politics and radical groups in various countries, Kidnappings of foreign nationals worldwide have increased by more than 60% in the past five years.The risk of a kidnap and ransom (K&R) situation is a very real risk for some families, particularly those with high public visibility, who hold a position of power, or w...

The Internet has brought incomprehensible changes to our world over the last 20 years. Technology is so prevalent in our society that whether or not you personally shop online, use apps, or conduct web-based banking, you could find yourself a victim of a cyberattack. This issue of Abbot Downing Perspectives “Cyber (In)Security” addresse...

With great wealth, comes great responsibility, and given the complexity of risks faced by the high net worth individual, even greater due diligence is required to protect against financial loss and emotional distress.While many high net worth individuals assess and protect physical assets, often they overlook protecting against loss from liability ...

In his seminal guide to combat strategy, “The Art of War,” Chinese military general Sun Tzu wrote, “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Great advice, except many companies tend to confuse tactics with strategy. They know strategy is important, but th...

It is frequently suggested that that family offices should mimic institutions and adopt an institutionally disciplined and process-oriented approach when managing their investment portfolios. Through a process-oriented approach, institutions and family offices can be more effective and produce more efficient long-term results.While this concept is ...

No Lapse Guarantee (NLG) policies, or policies with NLG riders are attractive to some insureds. The premise behind these policies is that as long as the premium is paid on time each year, the death benefit is guaranteed. Thus, many insureds, advisors, and trustees are under the impression that these policies do not require ongoing review. This is a...

As tax rates on the wealthy have begun to go up again, taxpayers have begun to take a second look at the few legitimate tax shelters still available, and this has renewed interest in investing through insurance dedicated funds (IDFs).This paper discusses two types of IDFs, Private Placement Variable Annuities (PPVA) and Private Placement Life Insur...

In light of recent and widely reported art market litigation, many collectors, advisors, dealers, and galleries are more cautious and confused than ever about how to go about buying and selling art and collectibles without losses or lingering liabilities. In this article, Judith L. Pearson of ARIS Title Insurance Corporation discusses the rise...

Every day we use smartphones, tablets, computers and other digital devices to access, transfer and store information, conduct financial transactions and operate many other aspects of our lives. Your digital assets include all of the digital devices you own, all data stored in them and on external servers, and all of your online user accounts. ...

In this article highlighting the importance of title insurance for fine art, Stephen D. Brodie of Herrick, Feinstein LLP, finds that:The economic value of fine art has become high enough, and that the risk of a title problem is real enough, that it is time for convention to change.Title insurance is readily available today, and should become a stan...

This paper lays out general insights around art as an asset class and how best to mitigate risks inherent in art-related transactions to buyers and sellers, financial institutions, trust and estate practitioners, and art investment vehicles. As we look toward the future, we can expect that globalization and structural ineff...