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The passage of the Coronavirus Aid, Relief, Economic, and Security (CARES) Act brings much needed tax relief to individuals, families, and businesses. While the CARES Act provides many potential sources of relief, the focus here is on the key personal and business tax provisions in the Act, and how such measures can provide support in the short term, as well as further down the road.

A Dynasty Trust is often referred to as a family bank since it serves as a primary resource for the funding of the needs of a family's beneficiaries in successive generations. Given the unsteady economic times and tax uncertainty, there is no better time than now for wealthy families to establish a Dynasty Trust to achieve optimum results, including tax advantages, flexibility, and control.

Whether it's a cabin in the woods, a house, or condo on the beach or a chalet in the mountains, your vacation home can be a wonderful place to relax and unwind. However, secondary residences require additional precautions compared with your primary home.

When considering where to establish a Private Family Trust Company (PFTC), South Dakota is continually chosen as the top regulated PFTC jurisdiction in the United States. The low PFTC capital requirements and maintenance costs make the set-up an easier process.

When evaluating and trying to find the right insurance advisor or company, it helps to have a map outlining the RFP process and a checklist of best practices. Learn where to start in your search and avoid getting the wrong results.

In this episode, Amy speaks with Dr. Dennis Jaffe, an organizational consultant, clinical psychologist, and one of the leading thinkers on how multi-generational families can enhance governance and empower next-generation leadership. Dennis and Amy talk about the impact of the coronavirus pandemic and how the uncertainty in today’s world plays out in wealthy families and increases the temptation for rash or reactionary decision making. Topics discussed:

Through thoughtful planning, there are ways to anticipate many possible issues—including the unanticipated—when doing your long-term and perpetual intergenerational trust planning. Consequently, detailed and flexible trust drafting is generally very helpful.

Water claims under personal or business insurance contracts can be confusing and easily misunderstood, and standard insurance does not cover everything. Protect your home from water damage and make sure you have the insurance coverage and endorsements that can make a difference to the financial health of your family or business.

For prominent and wealthy families, personal security and safety have always been a top concern. But too often, addressing family security comes after a triggering event. Having a proactive plan that views family security as part of a total risk management strategy will mitigate and reduce preventable crimes. The approach should include protecting the three gates of private life—the physical, digital, and social.

Responsible investors often express that they don’t want to buy companies that greenwash; rather, they want the real thing. And they want investment managers who can tell the difference. But businesses are complex organisms, and sustainable business practices are rarely as simple as good versus bad. However, there are pointers that can help steer you in the right direction.