Expanding Possibilities: Investment Residency in New Zealand
Executive Vice President Whit Batchelor joined a panel of industry experts to share insights on New Zealand residency options. Whittier Trust recently hosted a webinar examining the growing interest among American families in New Zealand residency — a trend that has surged more than 100%. The discussion explored how New Zealand’s political stability, wealth planning […]
Recent Updates Regarding Washington State Taxes
Washington Capital Gains Tax Beginning January 1, 2022, a flat 7% tax on net long-term capital gains went into effect. Many advisors believed the tax to be unconstitutional and that it would be repealed if/when challenged. However, the WA Supreme Court upheld the tax in March of 2023 in Quinn v. Washington. Additionally, the public […]
Five Key Questions to Ask Before Transitioning the Family Business
What ultra-high-net-worth individuals need to consider when mulling an exit. In my role at Whittier Trust, I’ve seen firsthand how critical it is for ultra-high-net-worth individuals (UHNWIs) to have a well-thought-out exit strategy for their family businesses. Despite the intensive planning that typically goes into wealth management, recent research from the Exit Planning Institute suggests […]
Wealth Planning as a Competitive Advantage
How smart entrepreneurs future-proof their legacy. Most entrepreneurs who have built a corporation to a valuation in the hundreds of millions (or higher) will tell you about a beginning filled with hard work, sleepless nights and worry over whether or not their business would survive. We work with many family businesses that are now worth […]
Balancing Support and Accountability
How high-net-worth families can protect their legacy while supporting their heirs. Every parent dreams that our children will grow up to be happy, productive, contributing members of society. We envision a path that may include youth sports, music and the arts, faith and culture, and of course, education. Our fervent hope is that our efforts […]
Thinking of Selling Your Business? Sell Smart
Smart entrepreneurs look far beyond financials. “The difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next,” Michael E. Gerber wrote in his book, The E Myth. The sentiment applies to entrepreneurs approaching […]
The Overlooked Key to Multigenerational Wealth: Proactive Estate Planning
For many ultra-high-net-worth individuals (UHNWIs), it’s easy to believe there will always be time to address estate planning. The demands of running a business, managing investments and nurturing family relationships often take precedence. But estate planning isn’t just about preparing for the inevitable; it’s about ensuring your wealth survives — and thrives — for generations to come, even […]
Strategic Wealth Planning for UHNWIs for the Second Trump Administration
The new year will present challenges and opportunities for ultra-high-net-worth individuals as they re-evaluate their portfolios and long-term financial plans in light of President-elect Donald Trump’s incoming administration. Strong partnerships between UHNW clients and their advisors will be essential during this transition and the ensuing four years. Proactive planning will be key, especially given potential […]
Transparency in Family Financial Matters
Choose the right time and tone for topics such as money and succession issues in family-run companies. The last thing you need in your family business is a disruption caused by miscommunication over crucial decisions such as promotions, the succession plan, or division of ownership. But in the absence of deliberate, scheduled discussions, people tend to […]
Don’t Let ‘Em Buy the Ferrari
Exploring trustee discretionary distributions: Trustees are often given discretion over the circumstances under which a distribution may be made from a trust to a beneficiary. This article explores some of the factors that are important to consider when giving your successor trustee this power. There are many reasons people place money in trust for their […]