The UHNW Institute JULY 2025 MONTHLY THEME –
Estate Planning and Legal Issues, our theme for the month of July, encompasses more than wealth transfer. While wills and trusts, gifting strategies, business succession planning, and Generation-Skipping Transfer (GST) Planning is often the focus of the topic, the Institute will also highlight resources and events this month to help advisors and other members understand the various ways this domain supports families.
Tax optimization and compliance and cross border legal issues, which includes tax residency considerations and implications for globally mobile families, will be included in the UHNW Institute Podcast this month with Judi Galst, Managing Director Private Clients at Henley & Partners, which specializes in residence and citizenship by investment. Have you observed more clients considering a move abroad or spending more time away from home? Want to better understand investment migration, alternative residence, alternative citizenship, and citizenship changes? What are the most popular programs for Americans and how do they work? Is there any difference between a passport acquired through birth or ancestry and a passport acquired by investment? Don’t miss this timely podcast to learn more and benefit your clientele.
Asset Protection is another hot topic of this domain, with domestic and offshore trusts shielding assets from creditors, litigation, and divorce. Pre- and Post-Nuptial agreements, and LLCs for mitigating risk and controlling distribution will be topics highlighted from the Institute Resource Library this month.
Family Governance and Fiduciary Structures, including family charters and constitutions, selecting trustees and fiduciaries, and educating heirs to prepare the next gen for stewardship and leadership will also be topics covered this month.
Charitable and Philanthropic Planning is also under the umbrella of the Estate Planning and Legal Issues domain, as specialists in this field are often the experts on the legal implications and tools for charitable giving and legacy building. Mission-aligned giving requires a firm understanding of family values and tax efficiency and strategy, which requires collaboration with multiple domain experts to best support the family’s needs.
When issues arise, this domain rises to the top for conflict resolution, avoiding family conflict, managing trust litigation, and mediating or arbitrating estate documents.
Whether your client is in need of these services, or just a periodic estate plan review, legal entity (such as trust managed enterprises) formation and management, the Estate Planning and Legal Issues domain provides an in-depth exploration of all these issues and more. For ultra-high-net-worth families, virtually all assets—including business and investment enterprises—are ultimately owned in trust, making it essential for advisors to understand the implications of trust ownership.
Join us for this month’s roundtable to deep dive into Trust-Owned Enterprises: What Every Advisor Should Know, July 24 at 4 pm ET. This program, focused on the Estate Planning and Legal Issues Domain, with Kim Kamin, Alvina Lo, Rebecca Meyer and Bill Onorato, will explore the structural, fiduciary, and tax complexities of trust-owned entities, from operating businesses to co-investment vehicles and holding companies. Advisors will gain practical insights into:
(1) gathering information to understand the ownership structure, control, and other relevant aspects of trust-owned enterprises;
(2) identifying potential problems and opportunities for enhanced estate optimization; and
(3) applying actionable strategies to help families preserve, manage, and transition trust-held enterprises of all kinds.
Be sure to explore the following UHNW Institute Resource Library resources to support this month’s Estate Planning and Legal Issues theme.
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ARTICLES/BOOKS/PRESENTATIONS
Catherine Grum | Society of Trust and Estate Practitioners | 2024
Complex businesses held in trust can foster disagreements and other conflicts between trustees and family members. This article offers a solution to the problem through the careful use of family enterprise governance. Governance helps formalize roles, codifies decision-making processes, clarifies the founder’s intentions, and helps resolve conflicts that arise.
U.S. Retains Top HNW Ranking, But Many Persons Want To Emigrate – Study
Family Wealth Report, 2024
The 2024 USA Wealth Report from Family Wealth Report confirms the U.S. remains the world’s leading hub for wealth, with over 5.5 million millionaires and 32% of global liquid investible assets.
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VIDEO
Wealth 3.0 Lawyering – How to Be an Integrated Attorney
Domingo P. Such, James Grubman, Kim Kamin, Thomas Handler | UHNW Institute | 2024
This roundtable discussion, led by one of the authors of Wealth 3.0: The Future of Family Wealth Advising and a panel of three experienced attorneys, addressed a critical question: How can lawyers adopt a collaborative, Wealth 3.0 service approach while maintaining their ethical and legal duties to clients? Attendees learned practical solutions such as sample language that helps define the parameters of the relationship. The information provided is relevant to both legal and non-legal professionals.
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PODCAST
The UHNW Institute Podcast – Episode 6: Estate Planning and Legal Issues
In this episode, the conversation focuses on the intersection of legal considerations with wealth transfer, business ownership, philanthropy, and health. The discussion highlights the role of the UHNW Institute in supporting collaboration among advisors, attorneys, and other professionals working with ultra-high-net-worth families.
ACTEC Trust and Estate Talk – Caution for Divorcing Spouses Who Are Trust Beneficiaries
American College of Trust and Estate Counsel | 2024
This episode explores Jones v. Jones, a case on whether trust assets count as marital property in divorce. Professor Mary Radford outlines the court’s reasoning and key takeaways for estate planners focused on protecting inherited wealth.
Wealth of Wisdom – Expressing Purpose in Your Trusts, Episode 54
Tom McCullough and John A. Warnick | 2024
In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews John A. Warnick. Tom and John discuss his chapter, the practice of giving your trust a heart and soul that is a reflection of you, and the benefits it will bring to your family.
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TOOLS & RESOURCES
Heckerling Institute on Estate Planning
The Heckerling Institute on Estate Planning is the nation’s leading educational conference for estate planning professionals, offering unparalleled educational and professional development opportunities for all members of the estate planning team.
National Association of Estate Planners & Councils (NAEPC)
The National Association of Estate Planners & Councils (NAEPC) is the national network of affiliated estate planning councils and credentialed professionals drawn together to achieve excellence in estate planning.
ACTEC Commentaries & Practice Aids
ACTEC is committed to improving the trust and estate profession through life-long learning. Our trust and estate resources and educational materials provide valuable information for lawyers, professors, and financial services professionals.
