Insights

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 […]

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 […]

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. […]

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 […]

Two and a half thousand years ago, Solon, the Athenian wise man and lawgiver, visited the wealthiest king of his time, Croesus of Lydia (now Turkey). 1 This is the same Croesus from whom we get the expression “rich as Croesus.” Croesus showed off his fantastic wealth to Solon, and then asked him, “Who is the most […]

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, […]

The Wyoming Qualified Spendthrift Trust (QST) is a kind of domestic 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 […]

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 […]

The previous article on philanthropy focused on the reasons for giving and the importance of giving well. In this part, we’ll look at how to construct and implement a strategy for intentional philanthropy. We focus on the family foundation mission and vision statements, as well as best practices to implement a giving strategy. Family Foundation Values […]

Most people learn at a young age that it feels good to give to others. Many people have been taught by parents, teachers, or mentors that “it is better to give than to receive.” Some people attach a moral or spiritual significance to giving. However, the act of giving itself can be quite complex, involving […]