By Todd D. Mayo New Hampshire has introduced a bill that would allow the formation, registration, and domestication of foundations. The bill (SB 225), which has already received a favorable vote in the state senate, would establish the New Hampshire Foundation Act. With the enactment of the Foundation Act, New Hampshire would become the first U.S. jurisdiction to permit the establishment of civil-law foundations. If the bill passes, the Foundation Act will be effective October 1, 2017. By recognizing foundations, New Hampshire would enable families from countries in which foundations are preferable to trusts as wealth management vehicles to avail themselves of a U.S.-based structure. Nature of a Foundation Under the Foundation Act, a foundation is a legal entity that holds and manages its assets for the benefit of its beneficiaries or in furtherance of its…
There Is No Alternative Perspecta Senior Research Analyst Matthew B. Warlick explores the current 7+ year rally in global stocks, the case for gold in portfolios in 2017, the “optionality” of cash, and hedge fund strategies that remain well positioned in a rising interest rate environment. Please see the full article here.
In his Third Quarter Investor Letter, Anthony J. Annino, Perspecta Trust’s Chief Investment Officer, discusses various economic motivations that may well be responsible for fueling the anger expressed by the US electorate in November’s presidential election – specifically the untold impact of China’s excess savings on the American worker and the adverse effects technological advancement has had on US manufacturing and industrial employment. Please click here to view the full investor letter.
Anthony J. Annino, Chief Investment Officer, and R. Angus West, Senior Wealth Strategist, will be speakers at the 2016 Family Office Super Summit in Miami, FL, November 28-30. The annual conference features top institutional investors and family offices presenting on allocation strategies, risk management, and best practices for guarding wealth. Mr. Annino will be speaking on a panel discussion exploring “How to Raise Capital from Billionaire Family Offices and Top 50 Multi-Family Offices.” Mr. West will be speaking on a panel discussion entitled “Million Dollar Mistakes: Wealth Management Lessons Learned by $1B+ Family Offices.” For more information on the Family Office Super Summit, click here.
Perspecta Trust Principal and General Counsel Todd Mayo and Vice President of Government Affairs Glenn Perlow prepared an amicus brief which was filed on behalf of the New Hampshire Trust Council in the New Hampshire Supreme Court, in the matter of Hodges, et al. v. Johnson, et al., Docket No. 2016-0130. The brief seeks reversal of a ruling by the 7th Circuit Court, Probate Division that voided a series of decantings of an irrevocable trust established in 2004. The amicus brief can be read in its entirety here.