New Tax Rules Push Wealthy Families to Lower Taxed States
Feb 18, 2020 The 2017 Republican tax law is having a noticeable impact on where wealthy individuals and family offices are based. Taxpayers who collectively generated $32 billion in 2018 moved from high-tax to lower-tax states last year, according to a Bank of America Global Research analysis of income migration data. This interstate wealth migration is multiple times larger than any at any other time in the past 13 years.READ MORE
Family Offices Encouraged to Review Estate Plans Under New SECURE Act
Jan 28, 2020 Major changes to the United States retirement system come into effect in 2020. A shift in the way inheritances and retirement accounts are treated for tax purposes could compel family offices and wealth planners to shake up their estate plans.READ MORE
The SEC’s new proposal could change private investments forever
Jan 07, 2020 Last year, the Securities and Exchange Commission (SEC) proposed amendments to the definition of “accredited investor” and the definition of “qualified institutional buyer” that would expand the list of people and institutions currently capable of investing in the private capital markets. That may impact asset valuations and liquidity for family office and institutional assets across the board.READ MORE
New Transparency Regs Could Impact Real Estate Market in Cayman Islands
Dec 5. 2019 Wealthy investors and family offices that have real estate in the Cayman Islands could see the value of their holdings readjusted as property investment rules and financial regulations are tightened.READ MORE
Impact of Tax Act on U.S. Top Tier Real Estate
Oct 30. 2019 Family offices and private investors have been grappling with a steadily declining luxury and prime real estate market across the U.S. While this downturn has been driven by a number of factors, the 2017 Tax Cuts and Jobs Act could be partially responsible, according to experts.READ MORE
Why Canada’s Tax Rules Are Particularly Favorable to Family Businesses
Sept 5. 2019
Family offices and family businesses in Canada are allowed to play by an enviable set of tax rules that make selling a family business or planning for succession exceptionally streamlined.
FATCA-Inspired Transparency May Have Left Family Offices With Little Privacy and a Hefty Bill
Aug 29. 2019
U.S. family offices and institutional investors have had to bear the brunt of the Foreign Account Tax Compliance Act (FATCA) since 2010. However, the success of FACTA has inspired other jurisdictions to implement similar policies in recent years. The latest piece of legislation is the Mandatory Disclosure Rules introduced by the European Union last year.
How Divorce Among the Wealthy Differs
July 12 2019
The grueling process of dividing assets between a divorcing couple often involves an army of lawyers, paperwork and proceedings. That’s not to mention the mental agony and emotional turmoil of an extended legal dispute with a former loved one.