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Successful family offices combine financial, philanthropic, legal, and administrative operations and help ensure that family objectives are achieved from generation to generation. These responsibilities create a range of liability risks for the family office entity and its executive and professional staff. With these risks, it is important for fami...

Risk has many dimensions and individual investors tend to equate risk with loss of capital. That definition of risk may actually lead an investor astray and hinder his or her ability to meet long-term objectives. Rather than attempting to avoid risk, successful investors embrace and manage it. For private investors, one of the keys to success is se...

Ransomware will continue to be a top security concern in the coming years because of its ease of use and high profitability. For those unfamiliar with ransomware, it’s a type of malicious software (also known as malware) that, when downloaded to a computer, encrypts files so they can no longer be accessed without paying a ransom to the cybercrimina...

Lawsuit awards can be incredibly high, and individuals known to have substantial assets are particularly vulnerable. In some cases, the high-stake lawsuits can cause devastating reputational damage. Given the risks and exposure, the need for holistic liability protection is an important issue. Learn the different types of liability i...

Black swan events—like the 2008 financial crisis and the COVID pandemic—often come with high velocity and are slow to recover. While these events are difficult to predict, the best way to get ready for the next crisis is with extreme preparation. Looking ahead with intentional risk management, here are 8 ways to prepare your business, family enterp...

Cybercriminals have migrated their attacks from larger businesses and hardened targets to private wealth clients and family offices, where the defenses are low or non-existent. In this webcast, hear from Dr. Chris Pierson, CEO of BLACKCLOAK, a Concierge Cybersecurity & Privacy Protection Platform that represents private wealth and family office...

2020 was a year of diverse risks marked by a global pandemic, a record number of storms, catastrophic wildfires, and ongoing threats to people and property from other perils, including cyber risks. When “unprecedented” is the new norm, there is a need for thoughtful risk management and insurance protection strategies as families and family offices ...

The key to success of any risk management plan is the development of an “all risk” approach that takes the entire family enterprise into account. Through a survey of more than 200 family office executives at single and multi-family offices, an uncovering of some worrying approaches has surfaced around the risks that family offices face, particularl...

When it comes to buying a new home, there can be many unknowns. However, uncovering the issues and hidden risks earlier in the process can help you make a more informed buying decision. As part of your lifestyle and property management best practices, there are four important questions—including matters of insurance and geographical risks—that shou...

The Corporate Transparency Act (the CTA) is the first significant update to the U.S. anti-money laundering laws in 20 years and gives FinCEN significant authority to adopt necessary regulations to implement the provisions of the CTA. Under this new compliance environment, there will be new burdens—including the filing of “beneficial ownership” info...

Lawmakers have passed the Corporate Transparency Act (CTA) to help in the ongoing fight against fraud, corruption, terrorism financing, and money laundering. The CTA contains significant new federal reporting obligations, and it may have an especially onerous impact on estate planning for those who accomplish their planning goals through the u...

On September 30, 2022, the Department of the Treasury issued final rules addressing the scope of the reporting requirements for beneficial ownership and control of entities provided under the Corporate Transparency Act (CTA), which creates more clarity for families looking to understand their reporting requirements and potential exceptions. While t...

How can an organization be confident it is agile enough to react to the unknown and the evolving risk landscape? One of the best ways is by establishing a strong risk culture. In this e-book, Baker Tilly practitioners take a closer look at some of the critical risks that organizations are dealing with now, how those risks have evolved in recent yea...

As the expectations and responsibilities of boards continue to grow, the corporate directors’ key priorities and considerations shift to four areas of focus: corporate purpose, values, and culture; business strategies built upon corporate purpose; enterprise risk management; and communications and reporting that highlight the need ...

Successful strategic growth planning occurs when a company identifies opportunities for growth and then focuses its organization to be efficient and effective in the pursuit of those opportunities. Having proper preparation and governance is key to reach and sustain that success. This e-book will help jump start a company’s move towards that journe...