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.

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 Senior Wealth Planner Ross Bruch shares insights gleaned from research on how money – and in particular, wealth – might influence happiness.

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 Planner Ross Bruch looks at investment-related biases and offers solutions to help recognize and minimize their negative effects.

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.

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.

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.

Wealth Planner Peter Moshang covers considerations for those looking to help family members buy a home.

Senior Wealth Planner Kerri Mast discusses qualitative matters related to business succession, focusing on the importance of family values.

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.

For those hesitant to create an estate plan, Wealth Planner Ali Hutchinson discusses tax-efficient options for transferring wealth to future generations or charity that require no long-term commitment, trusts or legal fees.

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.

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 Planners Alison Hutchinson and Stacia Kroetz share why it may be beneficial to “freeze” a current GRAT in today’s market environment.

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.

In this issue’s “By the Numbers,” we highlight the research of the Women’s Philanthropy Institute at the Indiana University Lilly School of Philanthropy and trends in women’s philanthropy, including women’s influence on household giving, the growing popularity of giving circles and the increase in giving to women and girls.

Senior Wealth Planner and Director of Philanthropic Advisory Kerri Mast explores options for philanthropists wishing to support charities around the world.

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.

Many family businesses rely on their boards of directors to help them during succession planning. Here, we share our top considerations as it relates to boards of directors and their involvement in the process.

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.

Throughout the first quarter 2022 issue of Owner to Owner, we brought you stories of succession from real businesses. Here they are.

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.

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.

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.

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.

Our “By the Numbers” infographic explores the patterns behind booming charitable giving and the impact of parental giving on the next generation.

As BBH kicks off its bicentennial anniversary, we speak with Managing Partner Bill Tyree about critical turning points at the firm, the company’s culture and values and the importance of speaking up.