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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.

Estate planners and advisors will need to contemplate the political climate in an election year, particularly given certain political opposition to the extensive changes made by the Tax Cuts and Jobs Act of 2017.

The COVID-19 crisis continues to disrupt everyday life. In response, the CARES Act of 2020 was signed into law in the U.S. to provide some relief. A summary of the key provisions in the CARES Act for individuals include delayed due dates for tax returns, enhanced charitable contributions, no required minimum distributions from IRAs and retirement plans, one-time payments from the federal government, deferred tax payments, and other programs for businesses.

The CARES Act was signed into law on March 27, 2020. The Act provides relief to individuals and families in the form of direct payments, relaxed restrictions on retirement accounts and new guidelines on cash donations to public charities.

When developing a model coronavirus response plan, there are three areas family businesses and family offices should consider. In addition, it is important to have an FAQ communication for employees. A sample FAQ is provided, keeping in mind that each employer will have different answers to the questions asked based on its unique considerations and needs.

Families often find it challenging to talk about long-term plans and wishes of their aging parents. But it’s never a good idea to wait until there’s a crisis to rally family members together on a plan that will address mom or dad’s needs and wishes regarding healthcare, living arrangements, and long-term financial care. Knowing how to get the conversation started and having helpful resources available can make the process an easier transition.

Successful owners who choose to sell their business have many things to think about before beginning the process. Owners who are new to the process should consider not only the financial ramifications of selling their business but also how it can affect their life after the sale has finished. To make the selling of a profitable business much smoother, there are five things to consider. First, it begins with the question: What financial means do I need to support my current lifestyle?