Search Results

Many family businesses are undergoing or anticipating transitions, prompting the need for trusted advisors more than ever. This session features experts who have deep breadth of experience in helping families manage business transitions and the complexity that comes with them, including new liquidity, helping founders find their next purpose, and m...

Seasoned investors know that you cannot predict the future of the markets. But smart private wealth managers know that the key to preserving and growing wealth is to anticipate critical trends that are likely to have a lasting impact. Where trends are concerned, 2024 has a lot brewing around the geopolitical conflicts, the explosion of artificial i...

In this interview, attorney John Litchfield of Foley & Lardner’s Labor & Employment group discusses the key considerations family offices should keep in mind when it comes to domestic workers in the family office environment. Along with insights on household staff salary and wage treatments in accordance with the Fair Labor Standards Act (F...

Employing service providers in your home carries considerable risk. If not handled with extreme care, the process of hiring, termination, and managing day-to-day responsibilities can create liability—and even result in claims of discrimination and retaliation by the employee. This report provides a snapshot of an increasingly complex employment lan...

Taking on the role of a direct household employer can be complicated—even for households with a single employee. This guide includes best practices for navigating the complex environment of household employment and provides practical advice on how to avoid the legal, financial, and reputational consequences associated with non-compliant employment.

“You only sell your company once” is a phrase founder/family-owned business leaders often hear before embarking on a major liquidity event. It demonstrates the enormity of the undertaking to effectively sell a business. Ensuring your company is prepared for a sale is crucial to any exit strategy, and should be considered long before beginning a sal...

Preparing yourself and your family can be one of the most overlooked parts of a business sale and exit strategy. But it goes beyond maximizing tax efficiency and unlocking newfound wealth—it’s a monumental transition filled with emotional considerations. This article outlines key questions and critical areas of considerations for business owners an...

For family offices, providing the highest level of service to their family clients includes ensuring the staff in their homes are not only skilled and qualified, but also trustworthy and ethical. However, the vetting process at every level—from housekeepers to directors of residence—has become more challenging as more applicants misrepresent themse...

Hiring domestic staff such as nannies, personal assistants, and housekeepers can expose you to liability issues and danger from unscrupulous employees. It is important to understand your areas of vulnerability and take steps to protect your family and your finances. Whether you hire your own employees or the family office hires them, three often ov...

The decision to sell or continue ownership of a family business is complex. Business owning families who recognize early the importance of both the financial and non-financial considerations of a potential sale are more likely to make good transition decisions.

Your household employees are necessary and helpful, but they present a risk, be it from accidents, reckless behavior, or bad intentions. While there is no way to minimize the concerns entirely, establishing clear communication, crisp policies, and appropriate checks and balances can prevent, or at least decrease most issues. We’ve created a checkli...

The complex, convergent nature of risks facing high-net-worth families requires family offices to adopt both a holistic and strategic approach to risk management than many have in the past. The ones who can make the change will be best positioned to successfully navigate the challenges that range from overarching trends of growing families to incre...

No matter what stage of the business cycle you are in, you should always have a defined strategy for your business operations and potential exit. For many family business owners, the sale of their business will be the single largest transaction of their lives. Yet many enter this transaction not fully prepared. To ensure you maximize your sale, the...

We have all been the new person at some point or another—the new person on the block, the freshman at the big university, a manager in a new office. In such hard-to-navigate situations, training and communications are integral parts of the on-boarding process. When both employee and employer are informed about one another’s needs, personalities, an...

While many individuals may have the skills and experience for a private staffing position, it’s the chemistry and having a system in place that makes it work for all parties. With this guide that includes job descriptions and requirements, discover the actionable insights and best practices for optimizing your private staff throughout the hiring pr...