Proactive Law
Family Office
The Family Office The “Family Office” is a tool that has long been used by the “ultra-wealthy.” It’s primary function is to consolidate control of family wealth. Such control is, by its nature, necessarily a business activity. In other words, the Family Office runs the business of managing the family wealth. In today’s world, the…
Read MoreStatements of Wishes
STATEMENTS OF WISHES IDENTIFYING VALUES, CREATING INCENTIVES, ESTABLISHING POLICIES Statements of Wishes Statements of Wishes, or what is sometimes called a Letter of Wishes, have long been used in international trusts and off-shore planning. Historically they derived from Testamentary Trusts. For decades, we have used them with inter vivos trusts or living trusts and irrevocable dynasty trusts.…
Read MoreLast Will and Testament – Advantages
POUR OVER WILL A Last Will and Testament (“Will“) is one of the basic legal emergency documents needed by everyone eighteen years of age or over. It is an essential part of any estate plan. Having a Will is part of being an adult. It is often the source of great intrigue and conflict of…
Read MoreFamily Councils: The Prosperity Key
The Durfee Family Council in this sketch could have been based on actual Family Councils my family has held. Its charts, tripods, business agenda, candid performance reviews, bad news delivery, weird humor, conflict resolution, and parental double teaming are very familiar to my children. It is no accident that it is about a “Durfee” Family meeting. Of all…
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