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 business transition.
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.
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.”
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.
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 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.
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, 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.
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 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.
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.
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.
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 Ali Hutchinson and Stacia Kroetz look 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.
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.
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.
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.
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.
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.
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.
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.
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.
BBH Relationship Manager Beth Milkovits provides a guide for introducing the concept of money and its value to children. She outlines the different ways parents can present money management responsibilities and impart the value of a dollar and importance of giving to their children in 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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