There are several qualities expected from the people who manage your money and perhaps a shorter list of critical components required for a successful long-term fiduciary relationship – trust, loyalty, fair pricing, and stability.

Multigenerational wealth — an aspiration for most high-net-worth individuals — requires sensitivity to a variety of complex financial planning issues.

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 [...]