Integrated Planning

Sustaining Generational Wealth: The Family Office Answer
A new white paper from Pitcairn makes the case for family offices as the best option for sophisticated families that wish to achieve a lasting legacy. The author examines the challenges of wealth and how family offices can help by integrating investment expertise with trust and estate planning, tax management, family governance and accounting skills. full article »

Family Limited Partnership Care and Maintenance
Family limited partnerships and family limited liability companies have grown in popularity across the last decade and, as a result, have come under IRS scrutiny. One of the keys to withstanding this scrutiny, Withers Bergman says, may be a resource that’s already at the disposal of many wealthy families: the family office. full article »

Time Bombs: Not Just in Investments
Insurance carriers, products and planning strategies all have been impacted by the economic turbulence and will continue to be so for the foreseeable future. A new white paper from Pelagos Advisors recommends that trustees, trusted advisors and policyholders proactively delve into the potential repercussions to explore strategies available for rehabilitation of existing policies. full article »

Post-Nuptial Agreements Elevated to New Status
A new paper from Withers examines a privy council decision upholding, in large part, a post-nuptial agreement made by a wealthy couple. Given the landmark decision in MacLeod v MacLeod, the authors say, some couples may want to clarify the financial arrangements between them by entering into a post-nuptial agreement. full article »

Investment Planning

Hedge Fund Roundtable Insights
Six hedge fund experts, including the chief executive of a major family office in Europe, candidly discuss some of the more topical themes within the hedge fund community at a special roundtable convened by Horizon Cash Management. full article »

Hedge Funds in Crisis
A new report from BlackRock highlights the more significant flaws in the hedge fund business model, remedies that could repair the industry’s damaged reputation and reasons why hedge fund and fund of funds strategies remain compelling in 2009 and beyond. full article »

Plans for Private Equity in 2009
Fifty family offices share their plans for private equity investments across the year in a survey conducted by Somerset Capital. Among the survey findings: secondary, distressed debt, mezzanine and turnaround funds are all areas where limited partnerships are increasing their exposure in 2009. full article »

Measuring the Mood of British Investors
While British investors are more cautious and pessimistic than they were six months ago, their confidence has not declined as much as might be expected given the severity of market sell-offs. A biannual survey by the Investment Management Association also finds there is a growing group of investors who see the credit crunch as providing good investment opportunities. full article »

Opportunities in the Changing Energy Sector
Investing in energy is not without its risks, such as the volatility of commodity prices, funding concerns and regulatory uncertainty. However, Neuberger Berman believes this sector offers promising, long-term investment opportunities due to the move to a lower carbon-energy diet and its reliance on alternative energy sources and conservation. full article »

German Economy in Stormy Waters
In a new research report from Deutsche Bank, analysts examine the causes and effects of what is likely to become Germany’s worst economic downturn of the post-war period. Looking ahead, analysts believe stabilization could set in gradually in the second half of this year, but they do not expect an upturn until 2010. full article »

New Drivers of Growth in China
Look for new drivers of economic growth in China once the current stimulus package loses steam in two to three years, say analysts for Trusted Sources. They predict an accelerated transfer of rural labor into the cities, driving development of service industries and new investments in all types of urban infrastructure. full article »

Reassessing the Endowment Model of Investing
In the wake of a difficult year that prompted some to question the endowment style of investing, a new paper from Family Endowment Partners reminds disappointed investors of the long-term record of performance and encourages them to be patient with this investment approach. full article »

Lifestyle Management

Checklist for Hiring Domestic Employees
Staff recruitment, hiring and retention are challenging for any employer, especially ultra-wealthy families who have limited experience in those areas. HUB International offers guidance on proper planning and preparation that can help families successfully navigate employment-related challenges.
full article »

Guide to Getting the Best Cancer Treatment
Individuals who have been diagnosed with cancer can do much to influence the course of their illness and improve their quality of life. This comprehensive guide from PinnacleCare can help patients navigate the healthcare system to get the best possible treatment outcomes.
full article »

Charting a New Course in Yacht Ownership
A new paper from Global Superyacht Club makes the case for fractional ownership of luxury yachts, noting savings of time and money on maintenance, crewing, management, safety and security procedures, planning, provisioning and relocation delivery. full article »

Risk Management

An Inside Look at Corporate Fraud and Misconduct
An economic downturn can accentuate the drivers of fraud and misconduct within companies, according to KPMG’s third national integrity survey. Researchers found that 75 percent of employees had observed or knew of wrongdoing within their organizations. Ethics and compliance programs seemed to make employees more willing to report the misconduct they observed. full article »

Preparing for the Litigation Storm
As the current economic crisis continues to unfold, financial institutions must focus not only on the immediate situation but also on the likely long-term effects. If history is any guide, Kroll says, they will see a substantial increase in fraud claims, legal disputes and regulatory actions.
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Taxation

HMRC Guidance on Trustee Residence
All offshore trust companies with any UK nexus should consider their UK exposure and the position of their trusteeships given the extremely detrimental tax effects that can arise through a determination of UK fiscal residency. The guidance also is very relevant, Withers says, in the context of private trust companies with UK resident directors. full article »

Insight into Trustee Residency Rules
A client alert from Baker & McKenzie offers insight into HMRC’s draft guidance setting out the agency’s view on the application of the new trustee residency rules to non-UK resident corporate trustees. full article »

Non-Doms and the Nominated Income Conundrum
There are significant changes in the taxation of non-UK domiciled individuals. This question-and-answer document from KPMG LLP provides a quick overview of these changes as well as the impact on those affected.
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FOX News

FOX Offering Leadership Development Programs
Family Office Exchange (FOX) has partnered with the Center for Creative Leadership to develop two powerful leadership development programs being offered this summer.

•	The Leadership in the Family Environment (LIFE) program is designed for next-generation wealth owners who are interested in learning about their leadership strengths, challenges and style and how to apply these skills as a contributor to the family.
•	The Family Office Executive Excellence program is an intensive leadership development experience designed for family office executives who want to create or improve the powerful leadership qualities necessary for the current environment they lead.

For more information about these programs, contact Ruth Easterling at 312.327.1215 or reasterling@familyoffice.com.