The Perils of Picking a Family Member as Trustee
When you were 10, your brother helped you budget your allowance to afford a bike. When you were 20, your sister helped you secure an internship in your career field. So naturally, either would be a great choice as a trustee for your estate, right? Not necessarily, said Thomas Frank, executive vice president and Northern […]
Your Family’s Real Estate is Too Important to Trust to Any Trustee
Whether you have a summer beach house or a portfolio of commercial real estate, choosing the right trustee is key to ensuring real estate investments are effectively managed. “Real estate is one of the largest asset classes in the world, and billionaire families have been created through the passing down of real estate,” said David Dahl, […]
How to Create an Estate Planning Blueprint
When it comes to estate planning, not having a plan is a plan. But not a good one. That warning, according to Thomas Frank, executive vice president at Whittier Trust, goes for all ages. The wealth management and investment firm has high-net-worth clients in their thirties and forties who have yet to create an estate […]
A Family Office Can Give You Back Your Personal Time
A common misconception is that people with significant wealth spend their time as they please. But high-net-worth families rarely have as much free time as people believe. Whether they’re running a business, overseeing an investment portfolio or managing several households, life can be complex and busy. A family office, unlike a traditional financial advisor, can […]
Why High-Net-Worth Families Need More than Just a Bookkeeper: The Benefits of Family Office Investment Management
While most financial institutions provide expertise around money matters, few can provide the completely personal services of a family office—much less help someone with a longing for a llama. Dedicated family wealth management goes beyond just experienced family office investment management, and our wealth management advisors understand that. “We ask our clients what they’re passionate […]
Why You Should Plan Now for a Big Tax Event in 2025
Here’s an incentive to move estate planning to the top of your to-do list: The next few years are an opportunity to maximize wealth transfer to the next generation. The Tax Cuts and Jobs Act of 2017 increased the federal gift and estate tax basic exclusion amount (BEA) to $11.58 million per individual, or $23.16 […]
Philanthropic Response Options During the COVID-19 Crisis
Private philanthropy has always played a critical role in disaster relief efforts. While it certainly can’t and shouldn’t take the place of well-funded governmental aid programs, private donors have proven time and again to be more nimble and flexible, and their philanthropy can serve to help meet the immediate needs of those affected as they […]
Wealth Planning in Down Markets and Low Interest Rates
The down market and low interest rates present significant estate planning opportunities – making this a very favorable time to consider wealth planning strategies for your family. In the past decade, we have seen an unprecedented era of low market volatility and positive returns. However, in a matter of just a few weeks, the stock […]
German Deficit Spending
If you get paid to borrow, why not spend? The world currently has over $13 trillion of negative yielding bonds and the German government is able to borrow for ten years at negative -0.40%. Conceiving of an economy as a business, you would think that a business able to borrow for free, should also be […]
Why Lifetime Gifting Should Be Central To Your Estate Plan
Right now, the lifetime exemption for gifts and estates is the highest it has ever been—$11.58 million for individuals or a $23.16 million joint exemption for married people. But this number isn’t permanent and could change. That’s why financial advisors are saying it’s a smart idea to put vehicles in place, like trusts, to enable […]