Ensuring a Smooth and Successful Transition of the Family Business
Five key questions to ask your advisor if you’re 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 […]
Guardians of Wealth: Navigating the Cybersecurity Landscape in Family Offices
In an era where digital threats are a constant worry, cybersecurity has emerged as a critical concern for family offices entrusted with managing substantial wealth on behalf of affluent clients. Despite the financial stakes and heightened awareness of cyber threats, a concerning gap persists between the recognition of risks and the implementation of robust defense […]
Keys for Maximizing After-Tax Returns: 4 Strategic Elements for Income Generation
In a world full of financial uncertainties, tax-sensitivity is one aspect of investing that you can control. At Whittier Trust, we have been laser-focused on after-tax returns—the dollars you keep—since the early 1980s. That focus has become a key differentiator and one of the many reasons clients tend to stay with Whittier from one generation to the […]
Don’t Forget Fido: How to Help Clients Include Pet Care in Estate Plans
Financial planners are charged with protecting the things that matter most to their clients — and those things often include pets. June is National Pet Preparedness Month, a time for making sure pets are incorporated into emergency plans. It presents a perfect opportunity for advisors and planners to connect with pet-owning clients to help them plan for […]
Putting Your Trust in Nevada
You don’t have to live in the Silver State to benefit from its trust tax advantages. As a lifelong resident of Nevada, I’ve welcomed countless new neighbors from California who have discovered the many benefits of my state. Of course, I’m not just talking about fresh powder on the slopes of Lake Tahoe. The absence […]
Making the Puzzle Fit: Aligning Your Concerns with Your Investment Timeline
Asset allocation is widely regarded as the single most important factor driving portfolio returns. It is grounded in financial theory and historical data but also incorporates the individual circumstances and risk tolerance of each investor. In essence, it is mostly science but does incorporate some art. Time horizon is one of the most fundamental considerations […]
Why Use a Corporate Trustee?
An expert third party can help create efficiency and avoid conflict. For many families, it makes sense to consider a corporate trustee, which is a company that acts as the trustee of a trust (rather than a family member or friend). I was a practicing estate planning attorney for 15 years before moving into the family […]
Raising Financially Resilient Kids
The Importance of Developing Financial Literacy and Generosity in The Next Generation: Every family is unique, but virtually all parents hope their children will grow up to be confident, self-sustaining, and happy as contributing members of society. Families of significant means face unique challenges in this arena, however, because the same wealth that affords them […]
Six Best Practices to Keep Your Business Sale-Ready
How hot is your company? Would you give it a solid 10 out of 10? What rating would others give it? Even if selling your company is the furthest thing from your mind, assessing its attractiveness and saleability should be a regular priority—a way to make sure you’re optimizing your resources and your balance sheet. […]
Home Means Nevada: 4 Key Reasons Nevada Should Be Home For You—And Your Wealth
Home Means Nevada—those are three words that every Nevadan knows. Aside from being the title of our state anthem, these words are plastered on bumper stickers, t-shirts and souvenirs across the Silver State. Nevada is renowned for its stunning natural landscapes and bustling entertainment scene and it continues to attract new residents drawn by its unique opportunities and lifestyle. […]