Families are complicated. Family financial planning is even more so. That planning can become particularly intricate and emotionally fraught for high-net-worth families that have a lot at stake.

Not long ago, during an estate plan review for a prospective Whittier Trust client, the firm’s representatives discovered an important issue. The potential client’s child from his first marriage was set up to take over his business — in which he’d given his second wife voting control.

As a family starts to amass wealth, its matriarch or patriarch typically controls its assets and makes the decisions. Things are still simple. With time, they get more complex. So the family head will enlist investment, legal, tax and other advisors.

Nevada is fast-becoming the state of choice for high-net-worth individuals and families seeking greater flexibility, optimal tax savings and maximum protection in their financial and estate planning. Nevada has grown to become one of the most “trust friendly” states in the country and challenging Delaware in popularity as a trust situs.

Webinar: Choosing the Right Trustee for Your Family Business Choosing the right trustee for your family business can be daunting. It’s one of the most [...]

The ski chalet in Aspen. The mansion in the Hamptons. The family compound that’s hosted generations for the holidays. Although certainly sentimental, these pieces of real estate may not hold the same value to dependents.

They played geniuses on television, and they’re clearly talented actors, but there’s a big challenge ahead for the cast of the hit TV show The Big Bang Theory: what do they do next? With millions in their respective pockets, the choices are nearly limitless.

Let’s Talk About Nevada. Thirteen. Ten. Five. That’s not the start of a riddle, but a sampling of some of the West Coast’s state tax brackets. Government coffers are really filling up with an increasing portion of your hard-earned dollars.

Commitment. Communication. Concern. Our Recipe for Building Trust. Warren Buffet says, "It takes 20 years to build a reputation and five minutes to ruin it." For anyone who's had their trust breached by a family member, confidant, or business partner, you know this all too well. Commitment. Communication. Concern. Our Recipe for Building Trust. Warren Buffet says, "It takes 20 years to build a reputation and five minutes to ruin it." For anyone who's had their trust breached by a family member, confidant, or business partner, you know this all too well.

“The object of teaching a child is to enable him to get along without a teacher.” -Elbert Hubbard No child is born understanding how and why they need to be a good steward of their finances and wealth. Especially as a member of an affluent family children face those issues front and center as they grow older.