Wealth

Medicare late enrollment can cost your clients more than cash
Young people may think they don’t need health insurance, but most older Americans understand that isn’t true. Still, many in the Baby Boom generation don’t know how to negotiate Medicare enrollment and leave themselves liable for a lifetime penalty tacked on to...  more
Tips to avoid IRS phone scams: What you need to know
It should be obvious that a phone call from the Internal Revenue Service talking about a lawsuit and demanding immediate payment is not legitimate. It should be, but for too many people it isn’t. Consider this statistic cited by CPA firm Anchin, Block & Anchin: “...  more
Wildfire preparedness checklist
Images of houses going up in flames are familiar sights as wildfire season begins. Widespread and long-lasting drought in the western United States make it imperative for anyone whose home or vacation property is near forested areas to prepare for a fire. “Few events...  more
Protecting your personal and business information from cyber-attacks
Data breaches and identity theft are a fact of life in the modern world, but there are simple steps you can take to protect yourself. As with any preventive measure, the time to act is now, not after you become a victim. This guide from insurance consultancy HUB...  more
Earthquake safety checklist
Since earthquakes are unpredictable, and can happen nearly anywhere, preparing for the worst in the event of one is the only prudent thing to do. HUB International’s “Earthquake safety checklist” covers steps that can taken at home that will minimize damage and help...  more
Rising vulnerability to floods risks devastating property losses in U.S. cities
“In coastal cities around the world, flood-related losses are increasing,” Quinn Eddins says in this white paper from CBRE Research. “American cities are among the most vulnerable, with coastal assets having a relatively high overall value and relatively low levels of...  more
Identity theft and cybersecurity checklist
“Identity theft is a risk that continues to grow and change daily,” insurance consultancy HUB International says in this client alert. “Due to the many forms identity theft can take, including medical, credit, and financial, the threat remains prevalent and affects...  more
‘A breach has occurred’… Now what?
Not a week goes by without a mass data breach or cybertheft, or so it seems. By now, nearly everyone has had it happen to them or to someone they know. So while we may have an idea of what to do when an account is compromised, the reality is that there isn’t one set...  more
Expecting the unexpected: Disaster planning best practices for high-net-worth individuals
“Natural and criminal disasters—from extreme weather to theft—are an unfortunate and inescapable part of life,” HUB International says in this guide to disaster planning. “Natural and criminal disasters—from extreme weather to theft—are an unfortunate and inescapable...  more
George Orwell was right
Sixty-six years after George Orwell’s 1984 was published, his image of universal surveillance seems more like prescience than a fictional nightmare. Even worse, faster and more powerful computers have destroyed the idea that massive data collections promised some...  more
How to Prevent Being Stolen From: Keeping the Crooks and Hackers at Bay
Security and safety should never be far from anyone’s mind, as any number of news stories remind us. The good news is “you can do a lot to protect yourself and your family,” Ballentine Partners says. Even better, “It won’t take that much time – most of the effort...  more
Passport to Safe Travels
Given that no place is truly safe — most accidents occur in the home, after all — both business and recreational travelers should take every possible precaution, as too many news stories make clear. While not everything that can go wrong will happen, the...  more
Rebalancing Insurance Assets to Mitigate Risk and Support Trust Objectives
It is common to employ insurance in estate planning, and not at all uncommon for insurance agents to uncover situations where the existing insurance will not provide the expected coverage. In this still-timely case study from the Insurance Design Center, an advisor...  more
Wealth at Risk: How High Net Worth Families Overpay to Be Underinsured
There must be something about buying insurance that leads to this paradoxical situation: “families with substantial assets who insure their homes, autos, watercraft, and valuable collections with mass-market, heavily advertised carriers overpay for protection that...  more
Passport to Safe Travels: Practical Advice for Affluent Travelers
There is some risk in any activity, even getting up in the morning or leaving the house, but business or leisure travel involves a higher level of risk, especially for affluent travelers. This white paper from insurance brokers HUB International “covers the...  more
Financed Life Insurance: Analyzing the Options
Buying life insurance may be a simple matter for some, but this case study from the Insurance Design Center (IDC) shows how many factors can go into the decision. The client whose advisor contacted the IDC had a life insurance policy that was paid for by “an outside...  more
The Security Game Has Changed: Is Your Wealth Advisor Up for the Challenge?
A recent study by PricewaterhouseCoopers of information security came to a troubling conclusion: Financial services firms are reducing data security budgets despite being the most vulnerable to online attacks. In this white paper from Silver Bridge Advisors, Steve...  more
Passionate Investing on the Rise: Spotlight on Asset Protection for Collectors
“Demand among high net worth individuals to acquire works of fine art, valuable jewelry, fine wine and other collections increased in 2010 and continues to grow in 2011, resulting in sales on par with pre-recession levels,” this white paper from ACE Private Risk...  more
Case Study: The Crane Family — Resolving the Risks of Estate Liquidity and Advisor Liability
The advantages of including life insurance in an investment plan may not occur to all advisors, leaving their clients at a disadvantage, according to the Insurance Design Center. In this case study, IDC explains how review of an individual’s life insurance portfolio...  more
Value Added Concepts for Life Insurance
“Life insurance is a financial instrument that gets little respect,” according to this white paper from the Insurance Design Center. In Value Added Concepts for Life Insurance, IDC explains how life insurance can be used for a variety of purposes, including liquidity,...  more
On Asset Protection Planning
Guarding one’s assets against litigation can be a complicated process, given the litigious nature of American society. In this still timely white paper from the Family Office Association, Daniel Rubin outlines some of the ways a family’s wealth can be protected,...  more
Insuring A Safe Vacation
Summer or winter, a carefree vacation depends on attention to details, including security at home and away. This still-relevant checklist from HUB International covers the steps to take while you plan a vacation, before you leave, and while you’re on the road. Among...  more
Study of Fat-Tail Risk
A “fat-tail risk,” defined as an extremely improbable event, has turned out to be more common than investors used to think. And investment vehicles that were supposed to mitigate those risks, such as hedge funds, now seem to be as just as risky. In this recent white...  more
Beyond Liquidity: A Framework for Assessing the Life Insurance Needs of the Ultra High Net Worth
Life insurance serves a number of needs, including helping to fund estate tax liabilities, a common practice that Jay Allen thinks should be reconsidered. In this still-relevant white paper from GenSpring Family Offices, Allen discusses situations where life...  more
Protect What Matters Most: A Personal Needs Assessment
As a person’s situation changes, insurance needs change as well. This still-relevant checklist from insurance brokerage HUB International encompasses a range of potential events and outcomes with the goal of determining if one’s existing insurance coverage is adequate...  more
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