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Families who have created wealth over time through real estate development and ownership have even greater opportunities, but very different challenges, when their focus shifts to preserving that wealth. In many instances, using appropriately trained professionals to guide in the process and electing to create a single family office, or retaining t...

Estate planning and wealth management involve the founder’s goals, family and assets. Unresolved substance use disorders (SUDs) will undermine the best plans and intent in all three areas. However, trustees and attorneys frequently overlook clients engaging in addictive behavior because they are unaware of the symptoms of the disease, don&rsq...

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.

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...

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.

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...

Spring and summer are typically filled with celebrations of life’s milestones, graduations, and weddings to name just a few. These and other life events are all occasions when we may wish to bestow meaningful gifts on those we care about. Thoughtful gifting strategies can help families transfer wealth from one generation to another, soft...

Private family trust companies have increased in popularity in recent years, and several states have adopted statutes specific to them. This compiled information compares state trust law requirements for Virtual Representation, Nonjudicial Settlement Agreements and Nonjudicial Modification Agreements in selected states that have PFTC statutes, incl...