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At the most basic level, the difference between a donor-advised fund (DAF) and a private foundation is the construct, or form, in which each entity is created and operated. Because a private foundation is a freestanding legal entity, and a DAF is an account, the two charitable vehicles offer very different levels of control, authority, and philanthropic versatility. For families considering which charitable structure to form, this side-by-side comparison is a helpful guide. And it turns out that form does dictate function.

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 compares the vastly different tax implications of transferring the family business through gifting during the owner’s lifetime (including on retirement) and through inheritance across 57 countries, territories, and jurisdictions worldwide.

While nearly 90% of affluent households participate in charitable giving, just 27% have received formal guidance around philanthropic matters. This disconnect means there’s a unique opportunity for advisors to deliver philanthropic support as part of a balanced and holistic wealth management solution. From this webcast and presentation, learn about:

ChatGPT and other generative AI tools are expanding and changing the way work is done. From a legal perspective, there are issues to consider when it comes to using generative AI in the workplace. Some of those issues were clear after two lawyers did an experiment testing ChatGPT’s ability to write a blog post on a legal topic.

While many family offices stay cognizant of continued volatility as investors, they also are continuing to search for the best investments in public and private markets. This report—based on 188 family office respondents from 32 countries—provides a comprehensive picture of how family offices view the world and the key factors driving their investment strategies. It also includes key findings around diversification, access to deal flow, and new talent acquisition.

Based on “The Stanford PACS Guide to Effective Philanthropy” and “The Philanthropy Toolkit: An Introduction to Giving Effectively,” this Charitable Giving Guide provides donors with a comprehensive resource to help maximize the impact of their philanthropic giving. By selecting one or more sections that align with your most immediate needs, you can tailor your experience by the topics that interest you.

After the Silicon Valley Bank (SVB) collapse marked another bank failure, it triggered questions regarding the various considerations and options for holding short-term funds. With this reference chart, see the comparisons that show the characteristics of demand deposits with government securities and various money market funds as cash management alternatives.

As a general counsel in the Family Office space, Nate Christensen speaks on the growth of direct investing by family offices, the competitive advantages and challenges for them, and advice for family office offices and those working with them. Nate also shares thoughts on how family offices are leveraging their own edge in direct investing. Hear more from Nate in this interview with Brian Lucareli, Director of Foley Private Client Services. Download the video transcript for a summary of the conversation.

The widely anticipated SECURE 2.0 Act of 2022 became law in December 2022 as part of the omnibus spending bill passed by the U.S. Congress. The legislation outlines a wide variety of updates to retirement plan rules for individuals and plan sponsors alike. Some of the changes take effect in 2023 while other changes will phase in over the next several years. This overview of the SECURE 2.0 Act and the accompanying webcast provide insights on how the Act may affect your retirement strategies moving forward.

Taking retirement account distributions prior to age 59-1/2 is often seen as an off-limits option for many account owners. However, using the IRC §72(t) payment exception can be a helpful tool in managing cash flow in early retirement years.