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Sidney Reso, president of Exxon Company International, was kidnapped from the driveway of his home and ultimately murdered in 1992. Edward Lampert, one of the nation’s wealthiest investors, was kidnapped in the parking garage of his offices in 2003 and was released after promising $5 million to his kidnappers. These are only a few examp...

Cloud computing continues to transform the way businesses work. But not all clouds are equal. We’ve collected the key features of cloud computing for family offices into a straightforward checklist and added explanations of what they are and how they matter to family offices. We’ve also highlighted what to look out for when ...

Wealth transfer planning is a complex process with an ever-changing set of risks, opportunities, and regulations. Subtle changes to wealth transfer techniques—including applying commonly used risk management and sophisticated planning strategies—can dramatically increase the likelihood of success and enhance financial results.

In the wealth management world, basis points mean everything. Hedge funds may charge 100 to 200 basis points plus a performance fee. Fund of funds typically charge 50 to 100 basis points plus a performance fee. The model for wealth management firms could be 50 basis points for managing a $10 million portfolio.Based on our observations, we know weal...

Trusts have gained enormous popularity over the last 20 years. The top 1 percent of the wealthy have 38 percent of their investment assets in trusts, and the next 4 percent have 43 percent of their investment assets in trusts.1 This powerful trend is largely due to the fact that the modern trust can provide a family not only with powerful tax and a...

Clients often hire domestic staff for help managing a large family and household. But for the affluent homeowner, there are significant risks associated with retaining employees such as babysitters, elder-caregivers, and housekeepers, to name just a few. When hiring domestic workers, it’s important to consider and address the risks involved, ...

One area of concern arises from large or multi-engine jet aircraft owners and operators — or their counsel — who focus solely on the potential civil liability risks. These parties often seek to minimize potential civil liability by creating a sole-asset company to own and operate the aircraft, which is in turn owned by the individual or...

One of the most common wealth transfer and estate planning techniques is to use an irrevocable life insurance trust (ILIT) to own life insurance policies. This structure enables individuals and families to direct the transfer of assets in a tax-efficient manner from one generation to another for the benefit of the trust’s beneficiaries.As wit...

Transferring more than material wealth has become increasingly important in today’s world. Ethical wills are a key tools that enable you to transmit your values to the next generation with peace of mind. These kinds of wills may include your personal beliefs and philosophy, and even important family history.

Smart phones, tablets and wireless networks are risky tools for high net worth individuals who are often targets of identity theft and social media attacks. This paper highlights the unique threats to HNW individuals and outlines protective measures against such crimes.

Marriage, a new baby, a teen’s first car, a student going to college, retirement — many of life’s major events can affect not only your life insurance and estate plans but also your property and liability insurance. This article discusses several key life events and how those events impact insurance coverage.

Those in the public eye have both the blessing and burden of a complex lifestyle, and it’s imperative that they have the proper insurance program in place to protect what they’ve earned. This articles discusses the pros and cons of enhanced insurance coverage for a number of valuable assets, which includes yachts, art and even the ident...

Squeeze, Freeze, and Burn. It sounds like an odd phrase, but it is actually a term used to describe a highly effective estate planning technique. It’s so effective, in fact, that as early as this September the IRS is expected to change some of the rules governing the “Squeeze” aspect—but more on that later. First, you pro...

On September 15, 2015, the SEC issued a new Risk Alert on cybersecurity that registered Broker-dealers and Investment Advisors need to review closely. This latest alert by the SEC's Office of Compliance Inspections and Examinations (OCIE) follows an announcement in April 2014 that it would examine the securities industry to identify cyber...

In addition to passing on knowledge, there are various ways to pass on wealth, and that is where smart estate planning and planned gifts come into play. This guide seeks to give you a quick reference to how families can manage wealth, considering taxes, additions of new family members, managing risk, and charitable objectives. It addresses issues c...