I am the oldest son of a successful business owner and have been actively involved in the business for 14 years. I have two siblings who are not currently active in the family business but may be in the future. As my father’s level of involvement in the business naturally slows, my responsibilities ...

"How do you prepare younger family members to manage their wealth well and flourish in their own lives and in their families?"Every family is challenged to find creative ways to engage family members in the process of learning – about the family and what it values and owns, as well as what it takes ...

Two events in December 2017 presented new tax challenges for family offices and provide a reason to evaluate the structure of the office and the current classification of family office expenses. One is the US Tax Court’s decision in Lender Management v. Commissioner, TC Memo 2017-246 (“Lender”), and...

Every wealth creation event has a story behind it, and it is in those stories we find the seeds that have germinated and blossomed into a family history and culture. The stories mean nothing, however, if they are lost in the mists of time. They must be preserved, revisited, and kept alive through fa...

A family 'like ours'My siblings and I agree that we are fortunate to come from a family like ours. When I say, ‘like ours,’ I mean very close, sort of ‘in each other’s business,’ and with a sense of responsibility for preserving our family dynamic and the opportunities that we have been afforded. I ...

How are families adapting to changing market dynamics?While investing has never been straightforward, investing today in the face of current uncertainty feels overwhelming to many long-term investors.Faced with today’s starting valuations and current yields, many investors have little confidenc...

This may not come as a surprise, but individuals have lost trust in the major institutions that have served as the framework of our modern society. Businesses, NGOs, government, and the media have all suffered a loss of trust in recent years for a variety of reasons.One of our great fears about a wo...

Given the current state of the market, many investors that I am speaking with are considering changes to the “what has worked before” approach.When I am looking for guidance on the complex macro environment, I often turn to Jeffery Gundlach, CEO of DoubleLine Capital, LP. I have asked DoubleLine to ...

In December 2017, Congress passed the Tax Cuts and Jobs Act; a bold legislation designed to overhaul America’s tax code for the first time in 31 years. House Speaker Paul Ryan (R-WI) declared, “The Tax Cuts and Jobs Act is a game-changer for our country.” Taxpayers will see significant changes when ...

With all the media coverage in the last couple of months, you have certainly heard at least tidbits about the new Tax Cuts and Jobs Act (Act), signed by the president in December. One of the most important provisions of the Act for high net worth (HNW) families is the increased exemption amounts for...