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Increasing Global Regs Mean Higher Compliance Costs for Family Offices

Increasing Global Regs Mean Higher Compliance Costs for Family Offices

An increasing global regulatory burden is leading to higher compliance costs for some family offices. The cost of wealth management has been steadily rising over the past few years, as governments demand more transparency and tighter controls on the financial services industry. ...

Asia’s Wealthy Families Keep Wealth Close to Home

Asia’s Wealthy Families Keep Wealth Close to Home

Asia’s wealthiest families seem to be keeping their wealth closer to home. As capital becomes more mobile and Asia’s wealth expands to historic levels, offshore jurisdictions in the region have cornered the market for wealth management, efficient tax...

How Family Offices Can Navigate Lender Case Tax Ruling

How Family Offices Can Navigate Lender Case Tax Ruling

A key ruling from the U.S. Tax Court presents a new challenge for family offices. In last year’s Lender Management v. Commissioner, TC Memo 2017-246 “Lender” case, the court ruled in favor of reclassifying investment expenses. Investors and inve...

The Biggest Risk to Your Estate Plan

The Biggest Risk to Your Estate Plan

Much of the estate planning process addresses essential questions about taxation, trust structure, management of assets and expected returns. But a recent survey conducted by TD Wealth finds that the biggest issue in estate planning is often the least talked about - fa...

A Look at Family Offices in LatAm: Q&A With Martin Litwak

A Look at Family Offices in LatAm: Q&A With Martin Litwak

The number of Latin American family offices has grown in recent years. Martin Litwak, CEO of boutique law firm Litwak & Partners, has experienced this growth first hand. In 2017, he created Latin America’s first multi-family office that focuses exclusively on legal, trust and tax matters. In the following Q&A he explains the trends impacting family offices in the region and the unique challenges they face.

Indian Angel Investors Get Tax Relief

Indian Angel Investors Get Tax Relief

India’s Income Tax Department has abolished the so-called “angel tax” for investors in startups who meet certain conditions. The tax has been hotly debated by startups since it impeded getting much needed capital at the seed stage. As per a notification issued on May 24, Indian angel ...

Investing Through Borders

Investing Through Borders

Last week, business circles in Mumbai were abuzz with the news that the real estate billionaire Surendra Hiranandani had obtained a Cyprus citizenship and relinquished his Indian one. Before anyone could say ‘live tax-free’ he was quick to clarify that the reason he was leaving the shores was the ease of travel a European passport afforded, providing quick entry to most countries in the world.

Impact of U.S. Tax Reform

Impact of U.S. Tax Reform

The recent overhaul of the U.S. tax code opened the door for wealthy families to potentially rework their estate plans in a number of ways. The Tax Cut and Jobs Act doubled the estate, gift and generation-skipping transfer federal tax exemption to $11.2 million for an individual and $22.4 million for a married couple starting in 2018.

The Shifting Regulatory Landscape

The Shifting Regulatory Landscape

The regulatory landscape has shifted dramatically in recent years following the introduction of the U.S. Foreign Account Tax Compliance Act or FATCA and the global Common Reporting Standard (CRS). The aim of FATCA, which became effective in 2014, is to prevent U.S. taxpayers from evading taxes via offshore accounts. FATCA requires foreign financial institutions to report to the IRS information about overseas accounts held by U.S. taxpayers or by foreign entities in which they hold a significant ownership interest. More than 100 countries have agreed to comply.

Choosing a Jurisdiction

Choosing a Jurisdiction

Choosing an offshore jurisdiction goes well beyond tax advantages. “A lot of people think it is tax driven in today’s world but it is protection and safety first,” says Mr. Stover. At this point in time most families are looking for stability and safety as it relates to the financial markets, the family itself and risks, such as geopolitical, he explains.

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