As the 2025 legislative session unfolds, wealthy families, their advisors, and the executives of family offices are watching closely. A series of tax proposals from Trump-aligned lawmakers in the House and Senate promises to reshape the federal tax code—particularly in ways that could fundamentally alter estate and succession planning for owners of family businesses, legacy real estate, and valuable collections. From permanent tax cuts to full repeal of the estate tax, these proposals signal a dramatic policy shift. Yet they also inject considerable uncertainty. Now is the time for sophisticated planning. The Trump Tax Agenda: Overview and Impact Several bills—each…

Stocks began trading lower last week, continuing the selloff after President Trump’s “Liberation Day” tariff announcements on Wednesday, April 4, which sparked the stock plunge in the previous week. The S&P 500 reached bear market territory intraday on Monday, down 21% from the mid-February closing high, as concerns about negative economic consequences from the tariffs grew. On Wednesday, President Trump announced a temporary reduction in the reciprocal tariff rates to 10% for 60 countries previously hit with higher tariffs. The tariff rate on China was increased to 125%. Stocks reacted with a record-setting one-day rally on Wednesday as the perceived…

These five gold mining stocks are soaring to new highs as investors look for alternatives to the dollar dropping and to U. S. government bonds sliding. That Trump’s tariff policies are creating uncomfortable uncertainties about the economy is now a given among Wall Street investment firms and their customers. Buying of precious metals and related equities is the result. The new 52-week highs in so many gold stocks is a reaction to the possibility of much higher prices thanks to tariffs. The chance of a recession is a major factor. This classic inflation-hedge is showing its strength as confidence in…

The artificial intelligence stocks have bounced back a bit after selling off along with most other stocks during the Trump tariffs on and off announcements. This group used to be among the hottest of all the sectors and just months ago had been making new all time highs. Those days are likely over as the price charts show evidence of a trend downward for these AI stocks despite this week’s bounce. It’s likely that other factors are at work besides the tariffs situation – analysts may have been re-assessing these names to see what’s there once the hype begins to…

Leaving an inheritance is a meaningful way to support your loved ones, but without proper planning, it can lead to legal headaches, tax burdens, and even family conflicts. As a retiree or pre-retiree, now is the perfect time to ensure your legacy is a blessing—not a burden. Here’s how to make sure your wealth is passed down smoothly and efficiently. 1. Get Your Estate Plan in Order A solid estate plan ensures your wishes are honored and prevents unnecessary stress for your family. Key documents to have in place include: A Will: Clearly outlines who inherits what to avoid disputes.…

Name: Kevin Peters Firm: Morgan Stanley Wealth Management Location: Palm Beach, FL Team Custodied Assets: $3.8 billion Background: Kevin Peters grew up in Middletown, Connecticut, and attended the University of Kentucky, where he majored in finance and business law. Although he initially considered a legal career, his he ultimately decided to become an advisor in 1983. He spent 18 years at Morgan Stanley’s predecessor firms before moving to Merrill Lynch in 2000. However, a pivotal meeting with James Gorman in 2007 eventually led him back to Morgan Stanley, where he has been ever since. Today, Peters leads a 12-member team…

When markets falter, many investors instinctively tighten their grip on their wealth, waiting for stability to return. But for high-net-worth individuals and families with long-term goals, a declining market is not merely a time to endure—it is a rare opportunity to act. From a gift and estate tax planning perspective, economic downturns offer unique leverage, allowing clients to transfer wealth more efficiently, reduce estate tax exposure, and position themselves for significant long-term advantage. The IRS values gifts at their fair market value at the time of the transfer. When the market is down, that valuation—along with the gift tax cost—is…

President Trump’s “Liberation Day” tariff announcements on Wednesday, April 4, sent stocks plunging as concerns about the economic consequences rose. The announced tariffs were significantly more sizable than anticipated. While the possible benefits from trading on fairer terms, reducing the US trade deficit, and bringing more production back home are attractive, it remains unclear if tariffs will accomplish that goal, and there are short-term economic headwinds from the strategy. Liberation Day Tariffs Explained The easiest way to think about President Trump’s tariff regime is in five parts: reciprocal, USMCA, China, Sectoral, and Commodities. The reciprocal portion comprises a 10% tariff…

The world is witnessing a remarkable transformation right now, with family offices emerging as potent engines of wealth generation. According to Financial Times, the family offices sector has grown significantly from a niche concept in the 1980s to approximately 15,000 offices globally with an estimated $5.9 trillion in assets. Their unique ability to invest with agility, take a long-term view, and tailor strategies to family objectives makes them one of the most influential forces in modern wealth management. Family offices are now dynamic players, actively shaping investment strategies and driving innovation. This article explores the evolution of family offices, their…

Nobel Prize-winning economist Daniel Kahneman’s book Thinking, Fast and Slow explores how the brain processes decisions and the biases that often shape them. One of the most impactful biases he discusses is loss aversion—a concept that has significant implications for investors. Understanding Loss Aversion Loss aversion refers to the psychological tendency to feel the pain of losses twice as strongly as the pleasure of equivalent gains. Imagine losing $100 at a casino—it likely feels far worse than the satisfaction of winning the same amount. This bias has been well-documented in behavioral economics and can influence investment decisions in ways that…