For wealth managers, a family business is often the most valuable, yet volatile, component of a client’s net worth. When a client holds control as an officer or managing member, their fiduciary duties to minority owners and beneficiaries are constant. Issues arising during succession can have ramifications that ripple across generations, transforming the controlling interest […]
Wealth managers can make a huge difference in the lives of their clients’ families by encouraging clients to protect their legacy by appointing a qualified fiduciary to manages their assets post-death. The choice of an executor or trustee can easily transform latent family tensions into high-stakes litigation. While clients may resist selecting a professional corporate fiduciary […]
