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Disagreements and discord can arise when it comes to your family vacation home, a unique asset that symbolizes important memories and family connections. For this reason, you should specifically address the vacation home in your estate plan to avoid hard feelings and even disputes. With thoughtful and proactive planning, a family can avoid many of ...

As families grow larger and more diffused—the epitome of an enterprise family—consensus seems ever more difficult to attain. In this Q&A, FOX’s Chief Learning Officer Mindy Kalinowski Earley and principal Jeff Strese of Jeff Strese Consulting Group discuss how families can reduce conflict by taking a consensus-building approach that can navigat...

For one reason or another, many families are reevaluating and modifying their fiduciary structures. To assist in these discussions, a reference summary of state laws is provided for consideration when establishing wealth transfer plans and structures, including taxation, trust laws, asset protection, and regulated and unregulated private trust comp...

Whether the sale of your artwork is a remote contingency or it is an immediate need, planning for it will help you and your fiduciaries anticipate the possible risks and opportunities that lie ahead. This guide leads you through the steps and takes you to the opportunities that exist when artwork, and the associated intellectual property ...

The ownership and governance structure of a private family trust company (“PFTC”) is highly customizable. This is important because all families are different, with different goals, family dynamics, asset composition, family sizes, and family affiliates. With that in mind, there are some key considerations in structuring the entity owne...

Migrating trusts from state to state can be challenging. Use this decision tree as a resource when transferring trust situs from one state to another or when modifying a trust agreement following migration to a new state.

No matter your role – whether you’re a family business leader, family office executive, family member – how are you preparing your family for significant wealth transfer or liquidation events? Said differently, how can you make inheriting wealth less like being hit by a comet?

Effective tax and wealth planning can be a challenge, especially when there is a possible recession, elevated inflation, rising interest rates, and geopolitical strife. With this guide, you have the planning information and resources to help you make the right moves to plan for your family’s future and manage your wealth. In addition to insights on...

With the accelerated pace of technology advancements in addition to tax policy changes that require tax teams to synthesize immense amounts of data, tax departments must fully embrace technology to be able to deliver valuable insights and tax planning strategies. This Tax Innovation Guide outlines how to modernize and future-proof yo...

With more business families going global, it’s imperative that family businesses consider the tax implications as well as the business and personal factors when planning a family business transfer. In this report, KPMG offers two case studies on taxing family business transfers and the significant disparities between tax regimes. The report also co...

For income earned in 2023 and tax returns filed in 2024, this tax planning reference guide provides information on the tax rate schedules, exemptions, and contributions to savings plans. Check with your advisors to see if you need to make any adjustments regarding your tax efficiency, wealth planning, retirement planning, philanthropic strategics, ...

At some point on your family journey and through the key life stages, you may take a step back and realize the wealth and legacy you’ve created are going to live on for generations. As you begin to reflect, you can look to the legacy and estate planning guide in this Digest as a starting point. You’ll also find helpful checklists, thoughtful questi...

Tennessee enacted a new trust bill effective July 1, 2024 that made several key changes to Tennessee’s trust laws as well as an important change to the Tennessee general partnership statute. Another highlight includes changes to the Tennessee Revised Uniform Partnership Act, which may enable interests in a family-owned general partnership to qualif...

There are various laws and issues to take into account when considering a state in which to form a Private Trust Company, including requirements around annual reporting, residency of personnel, and capital requirements. This report provides a side-by-side comparison of state PTC laws across key states: Ohio, Florida, Texas, and Tennessee.

As a subset of estate planning, asset protection is an important part of a family office’s risk management strategy. In this video, Chris Mays and Craig Redler discuss various strategies for asset protection, particularly for individuals and businesses facing potential legal claims and financial risks. They explore different structures such as trus...