Revocable Living Trusts: What to Know

At a Glance Please contact one of our attorneys for more information to see if a revocable living trust is right for you. What Do Revocable Living Trusts Do? A revocable living trust (RLT) allows individuals to avoid probate and plan for incapacity. By itself, a revocable living trust does not provide asset protection or […]

Avoiding 4 Traps of Core Values Discovery

Conducting a core values discovery exercise is a common first step in developing a family governance plan. Businesses will often perform a similar exercise to discover core values. Unfortunately, a values discovery exercise can become an ineffective cliché if it does not actually reflect or impact the behavior of the family. Even worse, poorly chosen […]

Power of Attorney: the Ins and Outs

There are various kinds of power of attorney (POA). Knowing which to use is critical in making sure your goals are accomplished.  For purposes of this article, we will focus on “financial” powers of attorney.  Financial powers of attorney deal with a person’s assets or financial matters. This includes contract powers, signing authority, and dealing with third […]

Using Probability in Family Office Decision-Making

Family Offices face complex decisions every day. These involve not just financial matters, but also multi-generational family relationships. The family office is responsible for thinking decades into the future to allocate resources and manage dynamics. These decisions can have multi-generational consequences. For any of these decisions, a simple binary is not the most effective way […]

Fine Art: 5 Family Office Best Practices

Wealthy patrons and admirers have been collecting art for millennia. The ancient Greeks and Romans eagerly collected not only art from contemporary artists, but also statues and paintings from even more ancient cultures. The motivations for collecting range from wanting to protect and preserve important cultural artifacts, to appreciating aesthetic beauty for its own sake. […]

Decision-Making for the Rising Gen

“… discover for yourself what is necessary and what is superfluous.” (Seneca, Ep. 110) Superfluous (adjective) su̇-ˈpər-flü-əs  : exceeding what is sufficient or necessary : EXTRA At a Glance One of the keys to happiness and productivity is learning how to prioritize. In the internet age this is more difficult than ever as there are quickly increasing demands on our attention. The […]

Building Resilience

Everyone faces some kind of adversity on life’s path. One character trait that distinguishes successful individuals (including entrepreneurs, athletes, and musicians) is their ability to effectively cope when they face those setbacks and move forward. They use failure as a feedback mechanism to get better and keep going through tough times. Many of those who […]

Managing Family Disputes

Successful people often have strong opinions. Their success has come from sticking to ideas, intuitions, principles, and processes, often in the face of opposition. However, there may come a time when this tendency turns into a disagreement among family members. Ideally the family is resilient enough to absorb disagreement and productively manage the conflict. This article […]

Dealing with Unique Assets

A Family Office Private Client Services Team Perspective Family offices, which manage the wealth of ultra-high-net-worth individuals or families, often deal with a variety of assets that can be challenging to administer and value. This challenge arises from the fact that the asset is unique and/or lacks a liquid market.  The Private Client Services (“PCS”) team […]

How to Evaluate an Advisor

There are many excellent advisors in the Family Wealth Industry. We have been honored to compete or collaborate with many of them in providing excellent services to client families. We also have received clients who previously had subpar advisors. Their estate plan revealed poorly drafted trusts and sub-par legal planning. How does a family know […]