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This the feature article from our Issue #4, 2023 FIRMA FORUM Newsletter. Members can view the entire issue, and past issues, in our archive

Viewing the Fiduciary Risk of Unique Assets Through a Different Lens

By Patrick Alyward

Wealth management clients continue to accumulate unique or “hard-to-value” assets within fiduciary accounts contributing to their overall net worth. In a recent IRS study, the number of estate tax returns filed (Form 706) by high-net-worth taxpayers, illustrates that more than half of their estate portfolio composition consists of illiquid assets such as real estate, closely held businesses, and other asset classes. As a result, fiduciary organizations have aligned with the expertise (internal or external) to manage unique assets while trying to minimize their risk serving as Trustee. Are the controls you have in place “good enough”, or are there opportunities to #bebetter by looking at your unique asset portfolio through a different lens?” Read More...