In Part 1 of our article, we used four “hypo-ethics” to address key ethical rules such as conflicts of interest, document notarization, and custodial easements, among others.1 We now turn our attention to several other requirements, including ensuring competent representation and conflict avoidance and disclosure. Source link

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A review of Chapter 13's projected allocation rules and their application to indirect lifetime rollovers. Source link

Opening a Sole Family Office (SFO) seemed like the next logical step for a family after selling their family business. Peer families and trusted advisors suggested opening an SFO. They visited several SFOs and began building their team. However, rushing into that decision did not turn out well. Only later did they realize that they…

A summary of recent court decisions. Source link

Managing a polarity requires a different approach. Source link

The intersection of family offices and private foundations (PFs) presents opportunities and pitfalls1 for wealthy families committed to effectively pursuing their philanthropic efforts. With an increasing number of wealthy families managing PFs in conjunction with their family offices, understanding the many ways that family offices and PFs can transact with each other is essential to…

We last wrote about the Corporate Transparency Act (CTA) in the July/August 2023 issue of Trusts and estates, when we were still a few months away from the January 1, 2024 effective date. Much has happened since then, including recent constitutional challenges to the CTA and periodic updates from the Financial Crimes Enforcement Network (FinCEN)…

The book of 2023, Wealth 3.0: The Future of Family Wealth Advisory,1 and some related articles2 outline a new perspective on wealth counseling for families. The perspective is based on a historical context in which, roughly before 1985 and still dominant in many areas of wealth management, the “Wealth 1.0” era focused primarily on the…

Open, candid, and honest discussion about broker/dealer satisfaction among advisors, mutual fund and ETF prices, fallout from the Chevron decision, the future of IRA rollovers, and more. Fred Barstein | July 17, 2024 Source link