The year 2024 has been a time of significant change and resilience for family offices. As we approach the end of the year, let’s take a look at some key trends that have shaped the family office space. A focus on risk management 2024 has been an extremely volatile year. According to Deloitte Private’s The Top 10 Family Office Trends, family offices identified recession fears, geopolitics, and inflation as the top three market risks of the year. As a result, risk management has become a top priority. To counter these challenges, a variety of strategies, including investment diversification, scenario analysis,…

Chances are that your inbox is full of reminders to make your end-of-year charitable donations. After all, ‘tis the season, right? The annual giving season kicked off on #GivingTuesday (the Tuesday after Thanksgiving) and charitable organizations hope to carry the momentum through the end of the year. That timing works out for tax purposes, too. Giving USA, in its annual report, estimates that giving by individuals, bequests, foundations, and corporations to U.S. charities hit $557.16 billion in 2023—an increase of 1.9% in nominal dollars, but down 2.1% when adjusted for year-over-year inflation. Similarly, giving by individuals—the largest category of funders…

Previously, we discussed how, on December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc. v. Garland, halting enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements[1]. The court found that the CTA likely exceeds Congress’s constitutional authority, and that compliance would impose significant burdens on businesses. In response, the Department of Justice filed an appeal on December 5, 2024, seeking to overturn the injunction. The appellate court’s decision will determine whether the CTA’s reporting requirements will be reinstated or…

Deciding when to retire is one of the most significant life choices you’ll make. The timing can influence everything from your financial security to your overall happiness in this next phase of life. While there’s no universal answer, understanding the key factors that affect retirement timing can help you make the best decision for your situation. Financial Readiness: The Foundation of Retirement Timing The first step in determining the right time to retire is assessing whether your financial resources are sufficient to support your lifestyle. This includes reviewing your retirement savings, guaranteed income sources like Social Security and pensions, and…

Salesforce took off this morning and hit a new high but there’s more to it than just that. If you owned more than one listed stock in the sector, there’s a good chance at least one of them also hit a 52-week high. Wall Street money managers can’t get enough of the stuff and right now. These price charts for the software names that this morning made the new highs list have the look of feverish, speculative mania. Typically, when a company has earnings that come in below expectations, the stock drops. Not today. If you remember to simply mention…

In Texas Top Cop Shop v Garland et al. ( case 4:24-cv-00478 December 3, 2024) , the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA), questioning its constitutionality and its impact on small businesses. The CTA, enacted as part of broader anti-money laundering efforts, mandates companies to disclose their beneficial ownership information to a federal database maintained by the Financial Crimes Enforcement Network (FinCEN). The Court’s Reasoning Judge Mazzant’s opinion strongly rebuked the CTA for overstepping constitutional boundaries. He noted that corporate regulation has traditionally…

Stock trades, donations and retirement contributions can have surprising effects on your taxes. Here’s how to use tax software to determine whether it will pay to pull the trigger. By William Baldwin, Senior Contributor Three weeks remain for end-of-year tax dodges. This review suggests strategies that might work for you and tells you how to find out if they will work. Some of these schemes are, or should be, familiar, such as harvesting tax losses in your portfolio. Some are less so, such as choosing Roth for a last-minute contribution to a self-employed retirement plan. All have the potential for…

If you are anywhere near the banking industry, you probably know they have continued to be on a “risk-off” mode and not wanting to get involved in extra lending. Private credit is a directly negotiated loan offered by non-bank institutions. These loans are also not issued or traded in traditional public markets, hence the label “private credit.” Why Banks Might Choose Private Credit Why would a business want to borrow from a company that is not a bank? Banks are lending less, so we can start there. In addition, these relationships between the lender and the business offer flexibility and…

I n his 2024 letter to Berkshire Hathaway shareholders, Warren Buffett stirred debate among estate planning professionals by recommending that individuals share their estate plans with adult children before signing. While this advice promotes transparency and trust, it also carries the risk of conflict, undue influence, and reduced flexibility. For families with complex estates involving businesses, artwork, or collectibles, this decision demands careful consideration. The Benefits of Sharing Estate Plans Fostering Transparency and Trust Sharing estate plans encourages open communication, building trust and understanding within families. Behavioral economics supports this approach, highlighting that clear, early communication reduces uncertainty and anxiety.…

The passing of Pete Rose this year brought to mind the discussion of batting average versus slugging percentage for stock selection and portfolio management. Pete Rose had a lifetime batting average of .303 with 4,256 hits in his 24-year baseball career. This means he got a hit almost once in every three at-bats, which is an outstanding result but doesn’t get him into the top ten all-time for Major League Baseball. According to MLB, Josh Gibson holds the record for the highest career batting average at .372. On the other hand, Babe Ruth has the all-time highest slugging percentage at…