In today’s global economy, more companies than ever have employees in numerous countries, often relying on a mobile global workforce to expand into new markets and meet strategic and operational needs. This updated Global Employer Guide includes basic outlines of employment requirements in nearly 20 countries in a concise table format that all...
Your employee benefits plan is likely one of your organization's largest expenses and one of your most important for attracting and retaining employees. To help you prepare for open enrollment season, this checklist will assist with your compliance obligations.
Without the usual financial pressures of family wealth, how do you teach your children about money, work, and personal responsibility? Because the stakes are high at this point in your family journey, this article by NEPC recommends starting with the family fundamentals and a sense of purpose for the wealth. It further outlines a reliable 1-2-3 str...
Being a fiduciary for your organization’s retirement plan doesn’t have to be complicated or overwhelming. However, it does require careful oversight to mitigate risk and help participants meet their retirement goals. With the use of this checklist that should be reviewed on an annual basis, employers can better manage their retirement plan responsi...
Through a collaboration with a family office and outside partners, hear one family’s approach to encouraging the rising generation to find their voice in the family enterprise. Learn from a Family Office COO how to design and steward a rising generation program with family input and the support of external consultants. Together, the group discusses...
The Five Capitals, Wealth 3.0, and the prevalence of Chief Learning Officers in family offices underscore a growing recognition among UHNW families of the value of investing in their human capital. Cultivating skills, stewardship, and personal growth is foundational for a legacy led by an educated, empowered family collective. We explore why learni...
With the new administration in the U.S. and its focus on various parts of the Tax Cuts and Jobs Act (the TCJA) and the estate tax, changes are expected amid the balancing of competing considerations. In this 10-minute interview, Jason Kohout, partner and co-chair of the Family Offices group at Foley & Lardner, and John Strom, federal lobbyist a...
Lawmakers have passed the Corporate Transparency Act (CTA) to help in the ongoing fight against fraud, corruption, terrorism financing, and money laundering. The CTA contains significant new federal reporting obligations, and it may have an especially onerous impact on estate planning for those who accomplish their planning goals through the u...
In December of 2017, the U.S. Tax Court decided in the Lender Management, LLC v. Commissioner case that deductions that were part of a taxpayer’s trade or business were deductible under Section 162; however, deductions under Section 212 were suspended through tax year 2025. Following the suspension of the 2-percent miscellaneous itemized deduc...
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 Corporate Transparency Act (CTA) has the potential to significantly change the privacy landscape for family offices and other organizations. Passed on January 1, 2021, it established a set of beneficial ownership reporting rules that require compliance with certain disclosure rules regardless of whether “reporting companies” were established be...
In 2022 Dr. Jamie Weiner published The Quest for Legitimacy: How Children of Prominent Families Find Their Place in the World, a collection of qualitative research modeling rites of passage, pathways to individuation, creating trusted partnerships, and addressing family dynamics. Similarly, in 2022 FOX has conducted focus groups and a rising gen st...
FOX’s Chief Learning Officer, Mindy Kalinowski Earley, explains how and why family education is an essential component that supports family cohesion and the transfer of wealth and legacy through generations. During this session she walks viewers through the newly released FOX Family Learning Handbook, filled with a roadmap of tools that will assist...
Communicating financial values and nurturing financial skills in the next generation is a far more challenging enterprise for today’s family than it was for previous generations. Social media, easy access to information through search engines, and dramatically different expectations call for creative ways for families to raise financially mindful c...
Educating children about money, wealth, and financial planning is a critical step in helping them build their futures. As a wealth creator and thoughtful investor, you want to be sure your children understand how to manage finances and make good, informed decisions when it comes to spending, saving, and investing. But talking to children about mone...