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Planning can help reduce a client's tax liability and mitigate the unpleasantness of surprises when tax returns are filed. This is a valuable service advisors can offer clients, and because proper tax planning requires a discussion of a client's entire financial picture, it also can serve as a catalyst to broaden the scope of relationships with cli...

Many private enterprises are just beginning to understand the changes necessitated by these rules and their implications. This is important, as preparation of annual financial statements that are subject to the rules involves a review and analysis of accumulated tax positions. Private enterprises can benefit from the accumulated experience of publi...

Meeting significant charitable goals efficiently creates a disproportionate need for the characteristics inherent in liquid, public securities. Increasing the allocation to liquid asset classes from 29% to 75% on a tax-managed basis can generate comparable returns to the endowment model after taxes while maintaining the flexibility needed to handle...

From aiding grandchildren to purchase their first homes, to empowering children or other loved ones to build their personal balance sheets through investing in residential real estate, there are many ways in which wealthy individuals may offer to help loved ones to achieve home ownership or favorable living arrangements. Each approach has tax impli...

Continuing a trend of the past five years, exchange-traded funds (ETFs) grew in assets under management in 2020. However, the fact remains that the ETF continues to be a one-size-fits-all solution that isn’t optimal for everyone. The flexibility of a custom passive separately managed account (SMA) can beat an ETF in terms of tax efficiency in...

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 ...

Since the pandemic’s early days, employers have been wondering when – and how – they’d be able to return to the office. Those concerns only got more pressing as vaccinations grew and COVID-19 variants increased. In this piece, FOX’s family office members share their timetables, policies, and what returning to work looks like at this point in the pa...

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...

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...

Artificial Intelligence (AI) is everywhere, and how organizations implement it into their workflow can be limitless. In fact, human resource departments are already deploying AI services for such tasks as resume screening, onboarding, training, and research. AI’s ability to collect and analyze data has enabled HR departments to streamline their wor...

This study by Crystal & Co is based on a survey of family enterprises and focused on how families think about certain areas of risk. One finding of the study reveals a significant disconnect between the strategic risk management planning conducted by family enterprise executives and the inclusion of the family itself. Overall, th...