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Advisors often have trouble convincing the wealthy to make charitable gifts while they're still alive. Indeed, for years, Ann Landers, the famous personal advice columnist, prodded her friend Warren E. Buffett, one of the richest men in the world...
At 9:00 p.m. on the evening of July 4, Jim Ruddy received an emergency phone call from a Nevada hospital room. Ruddy, president of the private family office Keswick Management Inc., is used to fielding calls from family members about financial...
Many family offices are paying close attention to the Securities and Exchange Commission's efforts to register and regulate hedge fund advisors. That's because last year, the SEC declined to treat an investment entity created for a family office...
Two recent legislative developments may enhance the attractiveness of Internal Revenue Code Section 529 savings accounts over other methods of saving for higher education expenses for certain individuals. One increased the kiddie tax age to 18...
May you never have to experience the legal and banking problems, not to the mention the gut-wrench, associated with posting a reward to help find a missing friend, family member or colleague. But if you do, here are the lessons I learned searching...
Recently, a wealthy art collector died, leaving a $20 million estate of paintings, drawings, sculptures and other pieces. The works belonged to a foundation established by the collector; the proceeds would go to the foundation. Other than that...
Many advisors assume that domestic asset protection trusts (DAPTs) self-settled trusts established in the United States typically to protect trust assets from a beneficiary's creditors are created exclusively for high-risk professionals, such as...
In theory, a trust is administered to effectuate a grantor's intentions for establishing it. In practice, most trusts don't accomplish this goal. That's usually because the operative documents fail to provide sufficient guidance. Trustees are left...
Benchmarking has long been standard operating practice in the manufacturing industry. In the last 20 years, it's gotten more attention in the service industry. And now family offices are beginning to think about how they too can measure...
