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The odds of sustaining wealth across generations are low, and studies show that less than 3 percent of failures stem from poor estate planning and poor investment returns. This implies that there are
After the stress of planning for next steps following high school graduation, including the college application process or other life planning, many parents feel as though they are “done.
There has been a lot of speculation and confusion about the impacts of the most recent tax reform, with many asking if they have to pay more taxes. Unfortunately, the answer is, “it depends.
Originating in English common law, trusts have been used for centuries to manage holdings of the wealthy. Even though trusts are quite common, many people may find them hard to understand. Having an
Until recently, many families filled key governance roles associated with their trust and estate planning with trusted friends, colleagues, or advisors who were flattered to be asked and honored to
The legal qualifications for a trustee are simple: he/she must be over the age of 18 and legally competent to manage his/her own affairs. The practical qualifications, however, are much more
Over the past half-century, the role of trustees has evolved rapidly along with the trust industry itself. We have seen a transition in the investment standards guiding trustees from a “prudent
You’ve built a valuable and successful business through hard work, long hours and countless decisions. You want to plan for transitioning the company, and the wealth you’ve created to
Trusts have grown enormously in popularity since the mid-1990s as a result of the development of modern trust laws, the dramatic increase in wealth and evolving family needs and goals. Modern trust
The use of trusts for long-term planning can provide many benefits; however, setting up a trust at one point in time to cover all potential future circumstances without flexibility is not advisable.