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Wealth

August 5, 2013

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

In an open letter to siblings John Hancock and Bianca Rinehart, the businesswoman – who at an estimated net worth of AUS$22 billion (€14.7 billion) is the country’s richest woman – said she was willing to appoint a co-trustee to the family trust.

July 22, 2013

One in three UK high net worth families have argued over inheritance and half of the country’s wealthy cannot decide how to split their wealth between heirs, new research reveals.

One in three UK high net worth families have argued over inheritance and half of the country’s wealthy cannot decide how to split their wealth between heirs, new research reveals.

Despite this, more than £1 trillion (€1.2 trillion) is due to pass between generations over the next 20 years.

According to the Coutts report, Breaking the wealth taboo: making succession a success, inheritance planning is becoming increasingly complicated as families become less traditional due to divorce and multiple marriages.

July 19, 2013

The world’s wealthy intend to take on more risk this year as they try to regain money lost during the global financial crisis, new research reveals.

The world’s wealthy intend to take on more risk this year as they try to regain money lost during the global financial crisis, new research reveals.

In a survey completed by the Institute for Private Investors, an educational and networking service for ultra-high net worth individuals, 63% of respondents said they planned to increase their allocation to global equities in 2013 and 53% plan to increase their positions in domestic equities.

July 17, 2013

Australia is ahead of the game when it comes to single family offices, according to new research, with the Asia-Pacific country boasting 250 out of the estimated 2,700 that exist globally.

Australia is ahead of the game when it comes to single family offices, according to new research, with the Asia-Pacific country boasting 250 out of the estimated 2,700 that exist globally.

Tables compiled by Eureka Report, an Australian investment website, reveal the country’s top 20 family offices are worth AU$103.9 billion (€73.2 billion), while the top 20 are worth AU$177.5 billion.

July 1, 2013

Security has long been on the radar of wealthy families, especially for those who remember the chilling spate of kidnappings in the 1970s and 1980s in Europe. So what steps can you take to protect your loved ones?

When Zachary Dell posted a picture of his breakfast on Instagram, he must have thought it was harmless.

June 24, 2013

To those considering moving their corporate or fiduciary structures from Cyprus, Malta and Luxembourg both offer attractive solutions, explain Herman Troskie and Mel Roberts of Maitland. 

To those considering moving their corporate or fiduciary structures from Cyprus, Malta and Luxembourg both offer attractive solutions, explain Herman Troskie and Mel Roberts of Maitland. Maitland offers offshore legal and tax advisory services to private and corporate clients.

June 20, 2013

An heir of the Astor fortune could be set to swap his Upper East Side apartment for a prison cell today, having exhausted almost all appeals for his conviction of siphoning millions of dollars from his mother, Brooke Astor.

An heir of the Astor fortune could be set to swap his Upper East Side apartment for a prison cell today, having exhausted almost all appeals for his conviction of siphoning millions of dollars from his mother, Brooke Astor.

Anthony Marshall, 89, was convicted in 2009, for elderly abuse. The lawsuit, filed by his son Philip in 2006, alleged Marshall allowed his mother – suffering from Alzheimer’s Disease – to live in squalor, while he enriched himself with income from her estate.

His lawyers are still fighting for a last minute reprieve.

June 18, 2013

Despite a reluctance to take up riskier assets and a lack of confidence in the equity markets, the world’s richest individuals saw their wealth grow 10% in 2012.

Despite a reluctance to take up riskier assets and a lack of confidence in the equity markets, the world’s richest individuals saw their wealth grow 10% in 2012, according to research released today by Capgemini and RBC Wealth Management.

This is in contrast to 2011 when the average investible wealth of high net worth individuals dropped 1.7%, and the sluggish 2.6% average growth seen since 2008.

June 4, 2013

Family business owners are more comfortable investing in tangibles and businesses than other wealthy families, according to new research.

Family business owners are more comfortable investing in tangibles and businesses than other wealthy families, according to new research, allocating three times as much to direct private equity and almost twice as much to real estate as their non-business owning counterparts.

The study, by family office networking centre Family Office Exchange (FOX) and the University of Chicago Booth School of Business, compared the investment decisions made in 2012 by business-owning families, and "financial" families – wealthy families without an operating business.

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