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The process of developing long-term strategies to manage family wealth requires careful thought and well-coordinated tactics focused on achieving far-reaching wealth planning objectives.All too often, plans are established that are focused primarily on minimizing the tax burden. Individuals and families need to be careful that the tax “tail&r...

It is not uncommon for wealth transfer planning to focus solely on the amount of money to be transferred and potential strategies for minimizing taxes. However, one of the most lasting gifts that a grantor can provide family members is an understanding of their long-term goals for the family and how this is shaped by shared history and values.This ...

The historic June 2013 Windsor decision clarified the financial and legal status of some legally married same-sex couples, while leaving others in an ambiguous status—legally married for purposes of federal law, but still considered single in many states. For those in a same-sex relationship or for families with children or grandchildren in a same-...

With more people investing more money in art and fine collectibles, whether for purely aesthetic or for strategic financial purposes, awareness of the risks associated with these investments and the ways to protect these assets is vital. Collectors should pay particular atte...

Delaware has long been a jurisdiction of choice for grantors of trusts—for generations, the state has built a trust-friendly body of legislation and has supported its laws with a knowledgeable and effective court system. In this package of white papers, our wealth strategies experts explain the benefits and considerations of Delaware tru...

While everyone is at risk when it comes to hackers and online thieves, the wealthy are specifically targeted, and increasingly by aggressive and well-organized individuals. The good news is there is a lot you can do to protect yourself and your family. It won't take much time - most of the effort involves simple, common-sense steps ...

The paper discusses how many advisors and high net worth clients view life insurance as an expense as opposed to a dynamic asset that requires constant monitoring, analysis and periodic decision-making to give it the best opportunity to perform as it was intended. Included are some case examples of real life situations and once read can provi...

Family offices are complicated because of the scope of services they deliver, the high number and complexity of entities they oversee and the staff they must manage. These complexities can open the door to liability. Employing consistent policies and procedures, establishing an annual entity review process, maximizing protection provided by indemni...

With bonds providing so little yield in today's market, should life insurance be viewed as an investment? Whether or not you view insurance as an "asset class," permanent life insurance is definitely an asset, and it can help investors achieve their long-term financial goals. Thoughtful coordination of insurance and invest...

Natural and criminal disasters affecting the HNW community have amplified the need for individuals and families to fortify their homes and make safer choices that demand advance preparation. The ultimate goal after a disaster is to return to normal life as quickly as possible. Planning ahead and knowing what steps you need to take will help limit y...

Since 2006, New Hampshire has permitted the formation of family trust companies. This paper summarizes the advantages of creating family trust companies in a favorable site such as New Hampshire.

New Hampshire’s directed trust statutes provide families with maximum flexibility and control in the creation and ongoing administration of trusts. This paper explores the benefits of directed trusts and illustrated a typical NH directed trust structure.

South Dakota’s favorable tax, trust and asset protection laws make it one of the top domestic asset protection jurisdictions. The January 2014 issue of Trusts & Estates magazine ranks South Dakota #1 in all categories including asset protection laws. In fact, it is the only state that ranked #1 across all categories (i.e., tax, trus...

South Dakota is the leading bank asset jurisdiction in the United States, according to the FDIC. As the leading trust, asset protection, privacy and favorable tax jurisdiction, South Dakota has attracted many wealthy families to establish trusts in South Dakota without having to live, visit or even fly over the state.

It’s the Fourth Quarter for corporate trustees who are burdened with the decision of how to implement the final regulations under Section 67 issued by the IRS last May. These regulations, govern the costs incurred by trusts and estates that are subject to the 2-percent floor on miscellaneous itemized deductions under Section 67. The regulatio...