The wealth management industry has become increasingly sophisticated when selling us financial services. They come up with “holistic solutions” to our financial “problems” and tap into our emotions in an effort convince us to pay them. The truth is, like most important things in life, there is no “quick fix” to managing our finances and you can’t simply buy success off...
Administering someone’s estate after they die can be a difficult and heavy responsibility. Before you begin that journey, consider the professionals who can help you fulfill your responsibilities such as lawyers, trust companies, accountants, and bankers. Also consider the legal obligations estate trustees must adhere to. If you’ve been charged with administering an estate or if you’re considering this role,...
Essentially, a family office is like your personal CFO. A family office does all the tasks that your accountant, your investment advisors, your lawyer, and your bankers won’t do. My clients tell me I’m like their Consigliere. A consigliere is a close, trusted advisor and confidant, or a kind of “right hand man”. I jokingly describe that...
This post will describe what a wasting freeze is and consider other issues such as adding leverage and making charitable gifts.
An estate freeze caps the current capital gains tax liability of an asset expected to appreciate and transfers the growth in value to successors. Families use estate freezes to pass down assets to future generations such as kids and grandkids. Businesses also use estate freezes to transition ownership to family members and/or employees.
Wealthy investors have many of the same fears as everyone else, the stakes are just higher when you’re rich. This post describes five common threats wealthy investors face and how to combat them. Threats faced by wealthy investors
Everyone should have an up to date will & estate plan. If your estate is simple, its easy to write a basic holograph will or consult with a neighbourhood lawyer. But when you’re wealthy its important to ensure your estate plan considers a complex set of tax rules and supports generational wealth transfer. This post will describe basic best...
What can private foundations invest in? There are many different rules governing how private foundations can invest their capital. So, this post describes some of the basic principles that might guide a foundation’s investment strategy.
The purpose of wealth is not for buying things, the purpose of wealth is for buying time. When you have financial freedom, how will you spend your time?
Your family office is your most trusted advisor and who you rely on the most to provide you and your family with financial peace of mind.
