Category

FAMILY OFFICE

Spine of open book with fanned pages

VALUABLE ADVICE FOR NEW GRADUATES – PRACTICAL AND LIFE LESSONS

By | FAMILY OFFICE, ★ Featured | No Comments

It is hard to believe it is that time of year again. The next class of high school and college seniors will soon don their caps and gowns and embark on the next chapter of their lives. That said, it is the opportune time to impart our best advice for these two groups of graduates. The following lists include both practical suggestions in the areas of career and finances, as well as general words of wisdom we would offer younger versions of ourselves given what we have learned over the years.

Read More
Mans hand stacking quarters

GIVEN THE NEW TAX LAW, SHOULD I CHANGE THE WAY I THINK ABOUT MY CHILD’S 529 ACCOUNT?

By | FAMILY OFFICE, ★ Featured | No Comments

529 education-savings accounts have gained popularity in recent years due to the steep increase in college tuition costs. According to the latest data from the College Savings Plans Network, assets in 529 accounts grew to $275 billion in 2016 from $106 billion a decade earlier. The primary benefits of 529 accounts include no income tax on investment gains, tax-free withdrawals for qualified expenses, and tax deductions on contributions in some states.

Read More
Business section heading of newspaper

THREE THINGS THE LARGEST U.S. PRIVATE COMPANY HAS DONE RIGHT

By | FAMILY OFFICE, ★ Featured | No Comments

Cargill is undoubtedly an exception to the old proverb: “Shirtsleeves to shirtsleeves in three generations.” Cargill is the largest private company in the United States with 150,000 employees and nearly $110 billion in annual revenue and has made it to generation seven.

The farm-to-fork conglomerate that supplies McDonald’s, Unilver, Coca-Cola, to name a few, originated as a single grain elevator in Iowa back in 1865…

Read More

‘TIS THE SEASON FOR GIVING

By | FAMILY OFFICE | No Comments

The vast majority of charitable giving in the U.S. is made directly by individuals to charitable organizations. According to the data, personal giving is over four times greater than giving that comes from private and corporate foundations. However, for families of great wealth, who prefer more structure around their philanthropy, the most common giving vehicles are private foundations and donor advised funds.

Read More

EQUIFAX DATA BREACH

By | FAMILY OFFICE | No Comments

On September 7, 2017, Equifax disclosed the discovery of a network intrusion that occurred on July 29, 2017 in which hackers potentially accessed sensitive information for 143 million Americans. Equifax is one of the three largest American consumer credit reporting agencies, along with Experian and TransUnion, maintaining information on over 800 million consumers worldwide. Equifax likely maintains your information if you have…

Read More

CONSIDERATIONS FOR SHARED OWNERSHIP OF FAMILY PROPERTY

By | FAMILY OFFICE | No Comments

Looking back, Sam, Jane and Nick’s childhood seemed almost perfect. They grew up in a loving extended family, played sports year-round and traveled. A highlight for the three siblings was their summers spent at Manor Grove, their family estate on the Outer Banks bought by their grandparents in the early 1900’s. When their grandparents died, the estate passed to their father, James, and his sister, Clara…

Read More

HOW DO I AVOID RUINING MY KIDS?

By | FAMILY OFFICE | No Comments

Families with significant wealth find that their wealth can solve problems, open doors, and provide security. But parents sometimes worry about “ruining” their kids when their children grow up in a privileged environment. We spend quite a lot of time working with our client families to prepare the next generation for the wealth that they will inherit – from basic financial literacy to fiduciary responsibility…

Read More