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As the management and control of a family office passes to a younger generation, it is common for new leadership to reassess many of the organization's strategic elements against a new measurement criteria, a necessary process that can lead to difficult and transformational decisions. For many, the single-family offices that remain will bear little resemblance to the operations that their parents established.

New research from Frontier Market Asset Management finds frontier markets are much more likely to be influenced by local politics and economic conditions than by the prices of three major commodities (oil, copper and gold). To the report's author, this means frontier markets offer useful diversification for global portfolios.

Because individuals are more vulnerable in a medical situation when traveling abroad, they are wise to assess risks and create an actionable plan to protect their health and well-being before they leave home. WorldClinic Inc. offers a helpful checklist of six things to consider as part of that preparation for travel.

The federal estate tax is scheduled for repeal in 2010, with a less generous version expected to go into effect in 2011. This has Congress considering proposals that could change estate and gift tax laws. This paper from U.S. Trust, Bank of America Private Wealth Management explores six of these proposals – including limits on the generation-skipping exemption, valuation discounts and GRATs – and their potential impact on taxpayers.

The authors explore the impact of the current economic downturn on philanthropy and provide recommendations for philanthropists and their advisors on charitable giving during these difficult times. Case studies show how a range of entrepreneurial philanthropists are responding to the challenges brought about by the recession.

With market turbulence and a down economy, investors may be searching for safe-harbor assets. The Artist Rare Instrument Fund makes the case for considering antique Italian violins and cellos as assets with steady, long-term capital appreciation. The article offers suggestions for moving into the market as a private investor or someone who buys into a fund that invests in rare instruments.

Purchasing or building a yacht can be a time-consuming and complicated process, particularly for buyers who are unfamiliar with the industry and the specifics of yacht construction. The Global SuperYacht Group explains the role of a maritime advisor and how he or she can streamline the process and protect the buyer.

With estate tax repeal less likely, grantor trusts are gaining attention as a way to optimize existing tax exemptions. Because grantor trusts offer income tax and estate tax benefits, they also can be a powerful tool for removing assets from a taxable estate. This article from Atlantic Trust Private Wealth Management explains the types of trusts, how to set up a trust and how to name beneficiaries.

During extraordinary market conditions of all kinds – good and bad – it is usual to hear people say, "It's different this time." Of course, every market environment is different from every other market environment, but what these people are saying is that market conditions today are so exceptional, so completely unprecedented, that investors will need to reassess everything they thought they knew about the investment process – or face serious consequences.

In order to increase the bottom line of a family office, one of the key econometrics is understanding the relationship between the fee charged and the costs associated with each client. Understanding the fees charged to a client is usually well known based on invoices sent to the client. However, without a corresponding knowledge of the costs per client, it is impossible to know if the fee assessed is adequate. To understand costs, it is necessary to track the time spent servicing each client.