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The Trump administration has released its tax reform outline: the “2017 Tax Reform for Economic Growth and American Jobs.” Although it doesn’t include specific proposals like the border adjustment tax, it does call for a “territorial tax system to level the playing field for American businesses,” as well as significant...

If a premarital agreement is a prerequisite to getting married, doing all you can to ensure that your agreement will be upheld against a future challenge should be your guiding priority. Accordingly, there are some helpful tips—the do’s and don’ts—to consider with respect to a premarital agreement. When thoughtfully negotiated and wisely drafted, a...

In light of the high conflict nature of many divorces, and the cost and time associated with divorce litigation, many couples attempt to pre-plan for the possibility of a later divorce by executing a pre-marital agreement. The past, present, and future of pre-nups and post-nups highlight a process that attempts to minimize a couple's stress during ...

A much anticipated and, perhaps, over-hyped news conference rolling out the Trump Administration’s tax reform plan generated very little “new news.” Treasury Secretary Steven Mnuchin and National Economic Director Gary Cohn presented an outline of a plan that is very similar to the talking points the President promoted on the camp...

Ask a wealth management colleague to define “the cloud” and you are likely to get a vague response. Even among information technology experts, the term “cloud” may refer to different technologies that are only connected in a general sense. And despite the fact that cloud computing has quickly become the IT norm, the question...

When a loved one dies, there isn’t a checklist of tasks to complete to expedite the grieving process. When you have been named the Executor (or “Personal Representative”) of the estate, you have an administrative process to navigate in addition to the emotional one. Thankfully, in that role, there are a finite number of actions th...

Michigan recently passed an act that allows individuals to create Domestic Asset Protection Trusts ("DAPTs"), an attractive option to help people protect their assets from the claims of third party creditors. If the basic requirements of the newly adopted Michigan statute are satisfied, it also permits the trust settlor to retain certain ...

On April 26, 2017, President Donald Trump presented the core principles of his proposal to significantly overhaul the Tax Code, including reducing individual tax brackets from seven to three, lowering corporate and individual tax deductions, and eliminating the alternative minimum tax. If key elements of the administration’s tax reform propos...

Every family has its own reasons for establishing a private family trust company (PFTC) which can be structured to suit the family’s needs and desired goals. When deciding whether to establish a PFTC, there are several important issues to consider. Taking an in-depth look at these considerations—including capital requirements, regulator...

The Board of Directors plays a pivotal role in the effective governance of any organization, including the private family trust company. Board members fulfill their roles and responsibilities, in part, by holding regular meetings that utilize a comprehensive agenda. One vital tool for an effective Board meeting is the meeting agenda. Here, ten sugg...

In 2009 the Bitcoin blockchain emerged as a form of a smart contract and has since evolved. From both a technological and legal perspective, smart contracts will continue to evolve and disrupt in digital asset sales and capital markets, supply chain management, smart government records and smart cities, real estate land registries, and self-soverei...

Today, more business and IT executives are implementing dynamic threat intelligence and information sharing to shift cybersecurity and privacy capabilities from reactive to proactive. They understand that they can build business advantages and customer trust by detecting, responding to and mitigating cyberthreats in real time. Addressing those thre...

Companies manage many risks, and it’s easy for boards to get bogged down discussing financial and compliance risks. But that can mean they’re not paying enough attention to risks that are truly critical, including cybersecurity that is continually evolving or threatening. Directors need to make sure they have an effective risk managemen...

For decades, Delaware has led as an innovative and flexible jurisdiction for establishing and administering personal trusts. There are five reasons to explore the First State as the premier location for your new or existing trust—even if you don’t reside in the state. Delaware is also a leader in providing “directed trusts,”...

Tax positions of a candidate are aspirational, and the newly-elected president will need to work with Congress to implement tax changes. In a summary comparing the outline of the tax reform proposals the Trump administration released on April 26, 2017 and the proposal the House GOP put forth in June 2016, it addresses the topics that are most relev...