8 Types of Trusts for Owners of High-Net-Worth Estates
Think of trusts as the Swiss Army knife of financial and estate planning. With their adaptability and wide range of structures, trusts can cater to a variety of financial needs. Whether you want to avoid probate, reduce your tax liabilities, guard your assets from potential claims, set guardrails around large monetary gifts, or facilitate the…
How To Make Your Family Wealth Last Through the Generations
Many prestigious families throughout history lost their fortunes within just a few generations. Consider the Vanderbilts, whose fortune originated in the railroad industry. In the 19th century, their wealth amounted to a staggering $200 billion1 in today’s money. However, once the grandsons inherited that wealth, they squandered it on lavish Gilded Age mansions2 and expensive…