We outline key year-end opportunities as they relate to gifting, income tax planning, retirement planning, and planning in a high interest rate environment, as well as provide a year-end checklist based on your goals.
Relationship Manager Elizabeth Madden reviews some of the benefits included in employee health insurance plans that go beyond your typical retirement and insurance elections.
Senior Relationship Associates Sean Kennedy and Lucy Townend discuss the key differences between HSA and FSA plans so you can best plan for the future.
BBH Partner Kathryn George, Head of the Center for Family Business Ben Persofsky, and Senior Wealth Planner Ali Hutchinson explore the various roles of a family business’s board of directors in succession planning.
We review why a charitable mission is important and provide guidance on how to approach crafting a mission statement that enables you to take philanthropy beyond just “being charitable” or “giving back.”
Senior Wealth Planners Karin Prangley and Anne Warren cover an important topic for private business owners: creating a family constitution to enable seamless business and wealth transitions.
In this issue’s feature interview, we speak with Narativ Co-Founder Murray Nossel about his passion for storytelling, why it’s so important that people – especially business owners – record their stories, and how they can negotiate their legacies.
In this issue of Women & Wealth Magazine, we speak with a group of women driving change in the healthcare space, explore the complexity of teaching the value of digital currency to children, provide three strategies for maximizing time, and learn more about the current state of motherhood in the U.S.
In this issue of InvestorView, we cover our “10 Ps” of investment manager evaluation, review the current state of the markets, discuss our approach to investing in private markets, examine the rise of generative AI, and look at results from our 2023 Private Business Owner Survey.
Senior Relationship Associates Amy Orser and Holly Rule look at several tax-efficient strategies for parents looking to pass wealth to children: 2503(c) trusts, trusts with Crummey withdrawal rights, UGMA/UTMA accounts, and 529 education savings plans.
Relationship Associate Lucy Townend discusses the risks and challenges involved with the decision to leave the workforce and the steps you can take to make the decision a positive one for the entire family.
Head of Philanthropic Advisory Kerri Mast discusses a common dilemma among philanthropically inclined individuals: the decision to set up a private foundation vs. a donor-advised fund.
We speak with Kevin Duncan, the BBH Trust Company’s director and head of estate administration, about the role estate administration plays in helping families thrive for generations and why a corporate executor may be the best option in certain situations.
BBH presents its 2023 Private Business Owner Survey, which was conducted to see how owners are addressing current economic conditions, future succession planning, and family communication dynamics. Read the results.
Adrienne Penta, the executive director of the BBH Center for Women & Wealth, and Alison Hutchinson, a senior wealth planner, focus on the topic of families, wealth and communication, discussing the guiding principles that we believe help families create life-affirming, enduring, effective wealth plans.
Managing Director Brett Sovine discusses section 6166 of the Internal Revenue Code, which in certain situations permits the executor of an estate to defer federal estate tax on a closely held business following an owner’s death.
The tax benefits for investing in or founding certain startup businesses can be incredible. Not all investors or founders can take advantage of these benefits, but for those who can, millions of dollars of tax can be saved – and with proper planning, potentially even more.
In this issue of Women & Wealth Magazine, we feature a group of inspiring women business owners and leaders to watch in 2023 and look at the next generation of women business owners, estate planning for blended families, and time affluence.
BBH Wealth Planner Michael Shapiro provides a primer on estate planning for blended families and considerations for couples who are remarrying to create blended families.
BBH Senior Wealth Planner Ross Bruch explores “time affluence” – a term that refers to the idea that, like money, time can be saved, spent, and wasted. He addresses wealth’s impact on time affluence, how to cultivate it, and how to avoid “time poverty,” which can lead to a lack of mindfulness and cognitive overload.
Alison Hutchinson and Melineh Ounanian discuss the fundamentals an individual must follow in order to be a good trustee when the trust owns business interests.
BBH Wealth Planner Peter Moshang discusses the permanent extension of the IRA charitable rollover, focusing on the benefits it provides philanthropic individuals in their charitable gift planning.
Prenups are often portrayed in a negative light, but when approached the right way, they can be a practical way to make things a lot easier down the road, if a relationship doesn’t work out. Here’s what to know.
Adrienne Penta, the executive director of the Center for Women & Wealth, explores 10 important strategies for raising children to be responsible stewards of wealth. It is never too late to start!
Adrienne Penta, executive director of the BBH Center for Women & Wealth, and Nicole Jackson Leslie, senior wealth planner, explore how a donor can guide a trustee, even after a trust has been created, to help ensure the trust is used to support and perpetuate a family’s core values for generations to come.
BBH Senior Wealth Planners Ali Hutchinson and Stacia Kroetz outline the importance of having a flexible estate plan. The future is unknowable, but centering your plan on your values and communicating regularly with your fiduciary and your family will set your family on the path to success.
Senior Wealth Planner Ali Hutchinson breaks down several estate planning techniques for individuals who have maxed out their available gift tax exemptions, as well as techniques that can be used to enhance gifts that have already been made and trusts that are already in place.
Many have questions about the financial and tax ramifications of the decision to get married. We discuss the potential benefits and drawbacks to a legal marriage from that perspective.
How can we continue to foster family togetherness in the year? Ali Hutchinson and Laura Salibello share five resolutions to help your family stay connected this year.
Ellen Perry, Ali Hutchinson and Laura Salibello lay out five questions to ask during the holidays to spark discussion around the dinner table and provide tips for how to approach these conversations.
We discuss the ways in which the worlds of investing and philanthropy are becoming more integrated and the importance of cross-generational conversations around this topic. Article written by Kaitlin Barbour.
We outline key year-end opportunities as it relates to gifting, income tax planning, retirement planning, and planning in a high interest rate environment, as well as provide a year-end checklist based on your goals.
We sit down with Jeff Schoenfeld to discuss his experiences as a BBH Partner, why seeking out LGBTQ-knowledgeable investment advisors and wealth planners may be useful for LGBTQ individuals, some of the financial and wealth planning obstacles that remain for LGBTQ individuals, and more.
BBH Senior Wealth Planner Ross Bruch explores the two ways businesses and other organizations can create a resilient staff: growing resilience within an organization’s existing workforce and hiring candidates that demonstrate resilient character traits.
Head of Philanthropic Advisory Kerri Mast examines four reasons why people give to charity other than tax benefits – which research has shown are typically not the primary driver of charitable giving.
In this issue of Women & Wealth Magazine, we explore how to develop leaders in family businesses, examine how to make hybrid work successful for everyone and look at how we can foster motivation in those we love.
Senior Wealth Planner Ross Bruch discusses the many different types of motivation and what role “flow” plays in keeping us interested and engaged in life.
Ali Hutchinson, a BBH senior wealth planner, and Ben Persofsky, the executive director of the BBH Center for Family Business, discuss the different methods for transferring shares in a private business to the next generation and cover the implications families need to consider from both a corporate and tax angle.
In this issue of Women & Wealth Magazine, we focus in on the value of communication as it relates to a range of subjects. We look at the criticality of intergenerational communication around wealth values, cover skills to teach our girls so they can thrive, discuss how to support a grieving friend and share guidance around how we can prepare ourselves to live in a world with more frequent disasters.
Adrienne Penta, executive director of the BBH Center for Women & Wealth, re-examines the criticality of intergenerational communication around wealth values. She discusses three steps for families to use in articulating, living and communicating their essential values.
BBH Senior Advisor Ellen Perry provides lessons learned from the recent illness and death of her husband on how to show up and support friends who are grieving.
BBH Chief Investment Officer Suzanne Brenner and Director of Philanthropic Advisory Kerri Mast discuss the ways in which the worlds of investing and philanthropy are becoming more integrated.
Travel by private aircraft offers a multitude of benefits; however, these advantages come at a price. Stacia Kroetz and Lindsay Hodgkins evaluate ownership options and related financial, legal, tax and regulatory matters for those considering private air travel.
In this video, BBH Chief Investment Strategist Scott Clemons discusses current market dynamics, explains how to calculate your organization’s unique spending rate, and provides tangible solutions to organizations grappling with these issues.
Senior Wealth Planner Kerri Mast discusses how families can use philanthropy to create a platform for teaching the next generation about family values.
Senior Wealth Planner Ali Hutchinson looks at spousal lifetime trusts – an estate planning strategy that may be the right fit for individuals who wish to transfer assets to others during life, but who also want to maintain access to the funds.
BBH Senior Wealth Planner Kerri Mast discusses how economic disruption can affect endowments and shares how to review spending policies to help mitigate negative impact.
Relationship Manager Reed Smith and Retirement and Trust Associate Matthew Senger break down the differences in setup, administration and contribution limits among three retirement strategies for small-business owners and the self-employed: the SIMPLE IRA, the Solo 401(k) and the SEP IRA.
In this issue of Women & Wealth Magazine, we speak with a nationally recognized healthcare and business leader, feature 22 women to watch in 2022 and look at trends in philanthropy, including shifts in how women give and international philanthropy.
Senior Wealth Planner Anne Warren discusses financial and logistical challenges following major life events like the death of a spouse or the dissolution of a marriage.
In this issue of Owner to Owner, we examine succession planning from several angles. Our Center for Family Business looks at the requirements of the founder or CEO both during and after transition, next generation family members as well as boards of directors, and also explores options in a situation where traditional ownership succession may not be the best path forward.
A leader’s openness to exploring a future for themselves represents a crucial turning point in beginning the transition journey. We lay out several steps owners can take to begin on the path of a successful transition.
Engaging and preparing the next generation in the succession planning process can be daunting. We share several components that can help the process run smoothly.
The decision to pursue an outside exit strategy, as opposed to a traditional family ownership succession path, is a difficult one. We lay out several steps that owners who are grappling with this issue can take as they seek to determine the best strategy for themselves, the family and the business.
A comprehensive tax plan considers not only federal gift, estate, and generation-skipping transfer tax, but also state and local income tax and transfer tax rules. Here, BBH Wealth Planner Michael Shapiro breaks down a common scenario of moving from New York to Florida.
To say choosing a legal guardian is an important decision in an understatement. Here, BBH's Lindsay Hodgkins outlines some factors you might wish to consider.
In this issue of Women & Wealth Magazine, we explore leadership, mentoring and life lessons from a wide range of perspectives. Whether you’re a parent hoping to raise children to be responsible with wealth, an executive leading a diverse team, a young person starting out or an engaged philanthropist learning from the past, we believe you’ll find important and helpful insight in this issue.
Wealth Planning Associate Lindsay Hodgkins outlines considerations and steps young adults could consider in order to begin the estate planning process.
Senior Wealth Planner and Director of Philanthropic Advisory Kerri Mast recently spoke with Dr. Tyrone McKinley Freeman about his research on Madame C.J. Walker, America’s first self-made woman millionaire. They explore her approach to charitable giving, activism, social service provisions and how we might better foster equity and inclusion in grantmaking.
This issue of Women & Wealth Magazine focuses on sustainability – both personal and global. We speak with the co-founders of Sakara Life about building a successful plant-based meal delivery business, explore how to build and maintain personal resilience, and share insights on engaging the next generation in philanthropy.
BBH Partner Kathryn George and Senior Wealth Planner and Director of Philanthropic Advisory Kerri Mast discuss how to best approach engaging the next generation in family giving – and some strategies for when it doesn’t go as you expected.
We examine the story of Madam C.J. Walker, America’s first female self-made millionaire and a Black woman, which offers some useful lessons for the intersection of business, personal values and philanthropy.
In this issue of Women & Wealth Magazine, we focus on women who are having an impact through the communities in which they work, the businesses they operate and the philanthropic endeavors they pursue.
In this issue of Women & Wealth Magazine, we kick off the new year with a focus on wellness, which is particularly important in the time of COVID-19 and all of its many implications for our daily lives.
In this edition, we speak with “Bones” creator Kathy Reichs about her journey from forensics to fiction, explore COVID-19’s dramatic impact on all aspects of women’s lives and cover the Democratic party’s tax proposal as we near the November election.
In this issue of Women & Wealth Magazine, we highlight 20 incredible women, new trends in the philanthropic space and communicating with children about digital currency.
Senior Wealth Planner Kerri Mast discusses the shifting landscape of philanthropy and impact, including the rise of international giving and impact investing.
During this time of need, many people are looking to make an impact with charitable giving. Wealth Planner Nicole Jackson Leslie shares how you can vet your chosen charity.
Wealth Planner Nicole Jackson Leslie walks through charitable opportunities during this time of crisis, touching on what to give, how to give and tax considerations.
BBH Senior Wealth Planners Alison Hutchinson and Brett Sovine and Wealth Planning Associate Lindsay Hodgkins share how you can provide financial support for family members in this time of crisis without unnecessary tax and complexity.
Senior Wealth Planner Anne Warren explores options for U.S. citizens, residents and charitable organizations seeking to incorporate international giving into their philanthropic efforts.
Senior Wealth Planner Anne Warren discusses the Miranda family’s philanthropic commitment and activity, including a new donor-advised fund program with the Hispanic Federation.
We sit down with philanthropist Ann Smead to discuss her work at the University of Colorado Boulder, the importance of measuring outcomes and her advice for today’s philanthropists.
We sit down with philanthropist Lea Culver, co-founder of fast-casual restaurant chain Culver’s, to discuss the work that is being done through the Culver’s Foundation, her personal approach to philanthropy and how she has engaged the next generation in her giving.
Senior Wealth Planner Kerri Mast explores innovative solutions today’s philanthropists are using, including implementing new organizational structures, maximizing the impact of their investments and making nontraditional grants.
Many parents and scholars would like to understand how the transmission of generosity from parents to children occurs. Andrea Pactor and Jacqueline Ackerman of the Lilly Family School of Philanthropy Women’s Philanthropy Institute share their findings on the “generosity gene” and how to create a strong foundation for the continuity of family giving.
BBH Wealth Planner Karin Prangley and Relationship Manager Edward Oh provide advice on how to create a family social media policy and share guidelines to improve your digital safety.
Parents may think that after high school, there is not much more they can do to educate children about the value of money. In our latest “Guide to Talking to Children About Money,” we explore the ways that parents can prepare their college-age and emerging adult children to be financially responsible adults.
In “Five Questions,” Diane Hessan, chairman of C Space, shares the skills that have helped her navigate new industries from technology to marketing to entrepreneurship.
Relationship Manager Beth Milkovits provides a guide for introducing the concept of money and its value to children at various stages of childhood development.
Senior Vice President Melineh Ounanian discusses how business owners who have established a trust can get their family to understand how beneficial a trust can be, setting forth some of their top benefits from the beneficiary’s perspective.
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