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 […]

Are You Asking the Right Questions?

Questions Build Rapport Meaningful relationships with others are an important ingredient of success and happiness in life. It’s rare when great achievements come about solely because of independent intelligence or efforts. Relationships are the foundation of what James Hughes has called “social capital”—one of the five forms of wealth that an individual or family possesses. […]

4 Family Office Best Practices

A New Era of Wealth For many decades, family offices were private and unique to each family served. In the era of Wealth 3.0, we are seeing a broadening of services, an expanding professionalism, and proliferation of options for High-Net-Worth and Ultra-High-Net-Worth families. Best practices for family offices have emerged. These help wealthy families know […]

How to Choose an Estate Planning Attorney

Choosing an estate planning attorney is a significant decision that will impact you and your heirs. Everyone agrees on the need for a competent estate planning attorney, but how do you determine who is right for you? This article explores what to look for in an attorney’s education, experience, teamwork with other experts, staff support, […]

Asset Protection Planning: The Wyoming QST 

The Wyoming Qualified Spendthrift Trust (QST) is a kind of asset protection trust. Asset protection trusts can often benefit high-net-worth individuals. However, they are especially beneficial for professional practitioners such as physicians and attorneys, who are often exposed to personal liability in the provision of their services. Not many states provide favorable asset protection trust […]

5 Not-So-Common Estate Planning Questions

Clients rely on their estate planning attorneys to guide them in what to consider when developing their estate plan.  The usual discussions are centered around how best to provide for beneficiaries and who should be in charge of things when they can no longer manage their affairs due to incapacity or death.  Without proper guidance […]