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Whether public or private, successful businesses share some of the same concerns. Attracting and retaining talent, balancing growth and risk with profitability and adapting to economic changes are all essential. But the owners of private businesses face unique challenges, particularly when they decide to make changes in the ownership or management ...

Successfully transferring wealth to your heirs is a challenging but priceless undertaking. It is the result of careful, thoughtful planning and should not be taken lightly. The following article discusses some of the more important things to consider while making these valuable decisions.

Succession planning’s goal is to provide the least amount of disruption to your business and to give you the widest possible choice of qualified candidates before you make that decision. While the process may consider candidates from outside the family and the company, in many cases it focuses on managers who are already with the company. Thi...

Creating an authentic life is a challenge in and of itself. Add family to the mix and this challenge becomes more complex and difficult. Whether you are the parent or the adult child in your family, you play a role in creating an environment of authenticity. Creating such an environment early is critical to achieving open and honest communication l...

Case management, a new concept in the addiction and behavioral health field, can significantly increase the likelihood of sustained recovery for individuals who suffer from chronic diseases such as alcoholism, drug dependence, depression and other addictive and behavioral disorders.

The loss of a spouse to either death or divorce is one of the most traumatic experiences anyone can go through. Life will change irrevocably in many ways for the surviving spouse or separated partners. This article reviews often-neglected steps that may lessen the burden and financial issues that you and/or your spouse may face when this painful lo...

For families contemplating substantial charitable contributions, private foundations provide a structure to create a legacy of family charitable giving and remain a popular vehicle for charitably inclined families.While a private foundation may appeal to an individual for a variety of reasons; private foundations come with responsibilities. Prior t...

Communication is found to be the most important factor for cohesion in families and sustainability of family wealth. As one of the key tenets to happy, healthy, and thriving families, it is essential for family members to dedicate the effort necessary to become better communicators. Practicing effective communications—including being open and ...

While it is true that having money can create great opportunities, it can make some people feel awkward and harbor deep feelings of regret and shame. Those feelings can dramatically influence wealth management decisions, affecting both the inheritors and wealth creators. When issues surrounding wealth as a burden go unrecognized, they can be magnif...

While men continue to play a leadership role in their families when it comes to wealth management planning and decision-making, a growing number are inclined to discuss the family wealth and wealth transfer intentions with not only their spouses but also their heirs. Research indicates wealth-related decision-making is now a shared responsibility i...

It is clear that affluent women today are involved, aware and knowledgeable about their wealth and wealth management. Indeed, more women are overcoming inherent obstacles and stereotypes by reaching out for additional financial knowledge and engaging experts as well as spouses to aid them in making prudent wealth management decisions.

Donors take care in planning their charitable giving over a number of years. As those plans unfold, however, natural disasters or tragic events can become an unexpected priority for giving. Ensuring that contributions provide the support intended by donors is not as straightforward as it may seem. Knowing the pitfalls that dot the landscape of...

Selecting one’s home state as the situs may be a convenient or easy answer. However, the ability to implement a trust that may last forever, eliminate additional transfer taxes after funding and avoid state income taxes may provide the financial incentive to stray from home, or at least to consider it.

Planning discussions about wishes are often reduced to how wealth should be distributed or utilized when the principal dies. However, wealthy individuals may be better served by a much broader discussion of how to build a family legacy that generates social and economic wealth, creates family unity and transcends time.

Preserving and managing tangible wealth in a complex and uncertain world can be a challenge. However, the greatest challenge individuals and their families might face is defining, reflecting on and expressing what their wealth really means.