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…

n recent years, the evolution of blockchain technology has introduced novel complexities to estate planning, none more so than the emergence of Decentralized Autonomous Organizations—or DAOs—that invest in artwork, NFTs, and physical collectibles. As clients increasingly turn to DAOs to manage high-value assets, estate planners are encountering challenges that straddle both digital and tangible domains, requiring innovative legal and fiduciary solutions. DAOs first gained prominence during the NFT boom, where groups like FlamingoDAO and PleasrDAO pooled capital to acquire digital art and crypto-native collectibles. Their success inspired a new wave of collective ownership models, many of which now target not…

While the economic data was a bit softer on the margin last week, markets were likely rattled more by concerns about the upcoming tariff announcements on President Trump’s “Liberation Day,” scheduled for Wednesday, April 2. Though the range of possible outcomes is extensive, the scope and size of the tariffs should be meaningful. Goldman Sachs estimates a five percentage point increase in tariffs trims 1-2% from S&P 500 earnings growth, so they have lowered their 2025 earnings per share growth estimate to 7%. Strategas Research Partners notes that the size of the contemplated tariffs could bring the total size to…

When you subtract all of a company’s liabilities from all of its assets and the number comes up lower than the market price per share, that’s “below book value” in the stock market world. These types of situations are hard to find with overall valuations up at higher-than-ever levels, but they do exist. These names are not widely broadcast or front-paged since great viewership and readership only tends to show up for hot stocks with hot concepts (AI, for example). Another way of saying it: these companies generally are boring, unexciting and keep to themselves for the most part. 4…

In many relationships, couples naturally settle into roles. Some responsibilities are clear-cut—one partner might naturally take charge of the household finances, while others develop over time, like handling the dishes or taking out the trash. Then there are tasks that align with personal strengths or interests—perhaps one partner loves to cook while the other steers clear of the kitchen. Dividing household responsibilities is not only common but often necessary. Managing a household and raising a family can be overwhelming, and having a supportive partner helps keep everything running smoothly. But what happens when one partner is suddenly left to handle…