Perpetually Looking Forward

In this three-part series, we are highlighting what we view as the three tenets of maintaining family wealth: values, stewardship, and structure. Many businesses create value statements that contain their core values and beliefs. These are vital documents and are referred to when businesses make critical decisions

In a recent article we detailed strategies to help you reap tax and estate planning benefits when donating to charity. But have you taken a step back to think about your overall charitable giving philosophy? Every year, we are flooded with opportunities to donate to very worthy causes, and it can be difficult to decide which opportunities to take, and which ones to pass on.

In this ongoing series, we are profiling several Simon Quick clients to reveal some of the financial and estate planning challenges faced by wealthy families and how we have been able to help them meet these challenges.

After a year of delays due to the coronavirus, the 2020 Tokyo Olympics officially concluded with the closing ceremony on August 8th. For two weeks, all eyes were on the 11,000 athletes who competed in the games, and it was easy to see how the years of rigorous training,  mental strength, and highly tailored goals put these athletes on the path to success. There are lessons we can all learn from these athletes - the importance of establishing goals and priorities in our everyday lives.

There have been reports that legislative changes could be coming that would impact estate planning strategies for wealthy families and individuals. The potential for change has some people accelerating their gifting strategies to take advantage of the current regulation. Of course, we can’t rule out the possibility that new tax law will be enacted retroactively, so others are a bit more hesitant to take any action at this time.

The terms “financial advisor” and “broker” are both commonly used in the financial services industry. While some people use the terms interchangeably, they actually describe two very different kinds of financial professionals.

Risk versus reward is one of the key concepts of investing that every investor should understand. The more risk you’re willing to assume with your investments, the higher your potential reward will be. Conversely, the less risk you’re willing to assume, the lower your potential reward will be. 

Summertime is here at last! If you haven’t made plans already, there’s a good chance you’re thinking about where you’d like to spend the warmer months this year.