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Cybersecurity continues to heat up alongside consumer’s growing dependence on devices and the growth of the Internet of Things. Hacking has evolved from the teenager attempting to modify a high school report card to a highly profitable business run by sophisticated groups. As a result, more and more cybersecurity companies are being founded a...

Overall, the insurance market in Asia remained competitive in 2015, with rates remaining stable or decreasing in most lines of insurance. However, certain lines did experience rate increases and these were generally driven by loss experience, as in the case of the Tianjin explosion in August and its impact on property catastrophe-exposed coverage, ...

Ample capacity and insurer competition generally put downward pressure on rates in most coverage lines in 2015, a trend expected to continue in 2016, barring unforeseen changes in condition. Other significant developments that bear watching throughout 2016 include demand for cybersecurity coverage across all industries, large-scale mergers and acqu...

In nearly every discussion about estate planning, important questions and issues arise. If couples arrive in their attorney’s office having already thought about these issues—including assessing the level of financial management skills their beneficiaries should possess, how to communicate to their children about their hopes and expectations about ...

Identity theft is a risk that continues to grow and change daily. Due to the many forms identity theft can take, including medical, credit, and financial, the threat remains prevalent and affects millions of people every year. Keeping up-to-date with the latest prevention methods is the surest way to protect the assets and identity. There are a num...

All businesses face cyber threats. Almost every company has some kind of network, database or online presence that puts it at risk for a cyber breach. Smaller businesses can be more vulnerable than larger ones as they often use third-party hosting and information processing that can be an entry point for cyber attacks. By following various proactiv...

Each year fraudsters are stealing millions of dollars through sophisticated fraudulent use of Email Compromise Scams targeted at individuals and employees who regularly perform wire transfers. The scam involves a fraudster creating a false email or alternatively, hacking into a real email account of an executive, business partner, employee or finan...

As a result of the Wall Street Reform and Consumer Protection Act, the private family trust company (PFTC) has becomie a very popular vehicle to provide not only Family Office SEC exemption but also trust administration to the ultra wealthy inter-generationally and several additional tax and non-tax advantages. This memo identifies several of ...

1031 exchanges are a common way for collectors to defer payment of federal capital gains tax when they sell appreciated property and buy like-kind property of the same or greater value. However, these exchanges must be planned carefully. This article features an example of a fine art 1031 exchange gone wrong and how alternative structures can preve...

Owners of LLCs or trusts that include personal assets should work with both a trusted financial advisor and an independent agent who specializes in insurance for the wealthy. Financial planners and insurance agents who collaborate on an account have more knowledge about how each discipline complements the other and can determine the limits and term...

Buying ample insurance for an art collection goes without saying, but it’s how collectors manage their coverage that can make the difference when disaster strikes. This paper examines the benefits of regular appraisals of collections, key questions to ask about the storage and transportation of collections and essential features of insurance ...

For many individuals, owning a horse is the realization of a lifelong passion, but it also increases their risk of financial losses or lawsuits. Regardless of whether individuals board a horse on their own property or at a professional facility, they should give special consideration to their insurance needs to ensure they’re adequately prote...

When carried interest is transferred early in a fund’s life, it can have a very low value relative to its potential value at payout. It’s this payout potential that makes it an ideal asset to be used in estate tax-reduction planning, especially when used in combination with a grantor trust allowing for that appreciation to compound on a...

Portability may have been viewed initially as the simple solution in situations in which there was the potential for loss of the applicable credit amount of the first spouse to die. While this is a valuable benefit, the impact and potential planning opportunities for portability go beyond this important but somewhat limited scope.

Without a full understanding of U.S. federal gift tax and income tax issues associated with a gift of money to a U.S. child, it is easy for a nonresident alien to convert what would have been a tax-free gift to taxable income. This guide outlines the most common gift-giving mistakes and how to avoid them.