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estate planning

March 14, 2017

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

June 12, 2008

An exclusive excerpt from the US Trust, Bank of America Private Wealth Management/Campden Research study Protecting the Family Fortune

An exclusive excerpt from the US Trust, Bank of America Private Wealth Management/Campden Research study Protecting the Family Fortune

Because of their success, ultra high net worth family businesses will at some time face succession issues. Moreover, the family businesses in this study have already lived through a "passing of the baton" at least once.

Succession planning is the process of efficaciously transitioning the family business to other parties.

June 12, 2008

Nearly four out of five affluent family business owners want to keep control of the business within the family but very few have the structure in place to achieve this, a new study from US Trust, Bank of America Private Wealth Management and Campden Research has found.

Nearly four out of five affluent family business owners want to keep control of the business within the family but very few have the structure in place to achieve this, a new study from US Trust, Bank of America Private Wealth Management and Campden Research has found.

The research, conducted by renowned wealth consultant Russ Alan Prince, found that 78.1% of ultra high net worth family business owners wished to keep their businesses in the family but that very few of them were utilising succession plans that would ensure this outcome.

September 1, 2006

At 72 years of age, Nils Larson thought it was too soon to begin the transition of his family’s publishing house to the fourth generation.

At 72 years of age, Nils Larson thought it was too soon to begin the transition of his family's publishing house to the fourth generation. He believed no-one in the business was qualified to take over his duties as publisher and CEO. Despite the urgings of family members on the company's board, Mr Larson took solace in the fact that his good friend and general practice attorney, Fred Wertheimer, was not pressing him to act.

March 1, 2005

Fouad (Fred) H is a self-made man. He arrived in Montreal from Lebanon in the late 1950s at the age of 23 with $150 in his pocket and a pregnant wife, Nieves, whom he met while on vacation in Spain.

Fouad (Fred) H is a self-made man. He arrived in Montreal from Lebanon in the late 1950s at the age of 23 with $150 in his pocket and a pregnant wife, Nieves, whom he met while on vacation in Spain. He took a job as a messenger at a local pharmacy and was able to save enough money to buy his first fashion jewellery shop. Forty years later he had built a large empire with over 65 stores across Canada – with affiliations in the US.

May 1, 2004

Given the extent of tax changes proposed under the UK’s latest budget, how can high net worth individuals at the helm of family businesses best manage their wealth in a changing tax landscape?

Matt Pitcher is a financial consultant at Towry Law.

Given the extent of tax changes proposed under the UK's latest budget, how can high net worth individuals at the helm of family businesses best manage their wealth in a changing tax landscape?

June 1, 2003

In order to safeguard your assets, estate planning should be actioned early and on a regular basis. There are seven key stages of planning and they can be well illustrated by Jaques’ famous speech describing the Seven Ages of Man

Ian Macdonald is a lawyer with Wright, Johnston and Mackenzie, Solicitors, in Glasgow, Scotland specialising in tax, trusts and estate planning.

In order to safeguard your assets, estate planning should be actioned early and on a regular basis. There are seven key stages of planning and they can be well illustrated by Jaques' famous speech describing the Seven Ages of Man

"All the world's a stage… and one man in his time plays many parts, his acts being seven ages."

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