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The future is now and with it we are seeing many changes – for family members, for the family enterprise and family office, and for the external wealth advisors the family relies on. The transformation will be predominantly philosophical and cultural, resulting in a sweeping paradigm shift that will deliver better balance between managing the famil...

Extreme winter weather has been a major issue throughout much of the U.S. in recent years and can result in high insurance claims accounting for millions in losses—the majority of which were due to ice dams and frozen pipes. An analysis of the winter-weather loss claims yielded four common factors and valuable insights that can help you be more pro...

Water damage has consistently ranked as the costliest cause of loss year over year. The largest of these losses have all occurred while no one was home. Whether you’re planning to be away for a short vacation or leaving for the season, there are nine steps you can take to help reduce the chances that you will suffer a water loss.

A chimney fire can be a significant event, in both monetary damages and trauma. The risk is heightened by the fact that chimney fires often begin out of sight, meaning they may not be noticed in time to prevent the flames from spreading to the home or causing serious structural damage. Luckily, a few simple measures can help reduce the damage from ...

If you are a newer family foundation with one or two generations on the board, five generations may seem like a long time away. Yet in family philanthropy, quite a few foundations have been operating and thriving for 50, 75, even 100 years. What’s the secret of these family philanthropies that make it five generations, and across family branches? H...

When starting with family philanthropy, a family can choose a donor-advised fund or establish a private foundation. Each option has different requirements and management issues, including start-up costs, privacy matters, control of grants and assets, and flexibility in impact investing. Serving as a general guidance for you and your experienced adv...

One of the many challenges facing wealthy families in today’s fast-paced society is the need to meaningfully involve family members, including the rising generation, in the management of the family wealth enterprise. One way to engage the family is through philanthropic giving where families can derive great benefit from working together to define ...

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...

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...

Professional staff is an essential element of an effective family philanthropy effort; however, it can be a difficult construct to navigate. In this webcast by the National Center for Family Philanthropy, learn how to hire and prepare your staff for success in family philanthropy. Download the transcript and presentation deck for your refer...

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...

There are many improvements that can be made to a home to help prevent costly and dangerous losses in the future. Many of the recommendations included in this guide cost a sliver of what they will protect, and for those implemented during construction, it often requires a much smaller investment than it would to retrofit a home later.

While insurance may not be top of mind as you go through life’s changes and challenges, it is a critical tool to help keep your family and assets safe. By minding your insurance gaps and working with a knowledgeable agent and reputable carrier in identifying your unique risks, you can assure your family has the protection it nee...

Land investments are a living, breathing entity that need attending to. Whether your primary focus is on conservation, wildlife habitat, agriculture enterprises, or a quaint getaway, the land will need to be managed. Here are the top five reasons why hiring a land management company is a worthwhile investment.

Climate change is impacting affluent homeowners in the form of insurance premium hikes and non-renewals. Learn how to safeguard your property and lifestyle with the right coverage.