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6 days ago | 
forbes.com | Matthew Erskine
When New York Times columnist Binyamin Appelbaum questioned the fairness of charitable deductions—using the $75,000 Met Gala ticket as an example of tax-subsidized elite indulgence—he tapped into a cultural controversy. However, his argument reveals a critical misunderstanding, especially relevant for financial advisors, estate planners, and philanthropists.
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1 week ago | 
forbes.com | Matthew Erskine
In March 2025, the U.S. Tax Court delivered a pivotal ruling in Estate of Galli v. Commissioner (T.C. No. 7003-20 and 7005-20), establishing that a $2.3 million transfer from a mother to her son was a legitimate loan—not a gift—because it adhered to the criteria set forth in Internal Revenue Code § 7872.
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1 week ago | 
fa-mag.com | Matthew Erskine
Earlier this year, a shocking incident unfolded during the renovation of the town hall in Maashorst, Netherlands, resulting in the accidental disposal of 46 artworks, including a $25,000–$30,000 Andy Warhol silkscreen. These artworks, stored carelessly amid municipal mergers and construction, were likely discarded as "waste," according to an internal investigation. Among the lost pieces was Warhol's portrait of Queen Beatrix, an irreplaceable cultural treasure.
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1 week ago | 
fa-mag.com | Matthew Erskine
From January 20, 2025, when the second Trump administration began, until April 4, 2025, the Dow Jones Industrial Average fell 12%. At one point, the U.S. stock markets lost $5 trillion in value in just a few days. Periods of market volatility—whether it’s driven by inflation, recession or global disruption—might seem like times to delay estate decisions, since the turmoil has many investors worried and cautious.
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2 weeks ago | 
forbes.com | Matthew Erskine
Earlier this year, a shocking incident unfolded during the renovation of the town hall in Maashorst, Netherlands, resulting in the accidental disposal of 46 artworks, including a $25,000–$30,000 Andy Warhol silkscreen. These artworks, stored carelessly amid municipal mergers and construction, were likely discarded as "waste," according to an internal investigation. Among the lost pieces was Warhol's portrait of Queen Beatrix, an irreplaceable cultural treasure.
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2 weeks ago | 
forbes.com | Matthew Erskine
In the evolving landscape of wealth management, family offices are increasingly looking to diversify their portfolios by making direct investments into alternative assets where before they were more likely to invest as a limited partner of a fund. For decades UHNW individuals have been making direct purchases of art and collectibles. Now family offices are increasingly viewing those purchases as an alternative investment to be included in the client’s portfolio and planning.
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2 weeks ago | 
forbes.com | Matthew Erskine
he Service Gap: What’s Missing? While individuals may enjoy access to a broad range of financial, legal, and estate planning services, those services often fail to address the unique complexities of collecting. A fine art collector may work with a wealth manager who lacks familiarity with the nuances of valuation and provenance. Their estate attorney may not understand how to plan for the succession of a fractionalized, internationally sourced collection.
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3 weeks ago | 
forbes.com | Matthew Erskine
Intergenerational family business conflicts can pose significant challenges, as evident in the recent high-profile dispute within the Kwek family at City Developments Limited (CDL). This case provides valuable lessons for governance in ultra-high-net-worth (UHNW) family enterprises. By utilizing Systems Dynamics, a methodology for understanding complex systems, we can better analyze the underlying causes of such conflicts and propose strategic solutions.
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1 month ago | 
forbes.com | Matthew Erskine
As the 2025 legislative session unfolds, wealthy families, their advisors, and the executives of family offices are watching closely. A series of tax proposals from Trump-aligned lawmakers in the House and Senate promises to reshape the federal tax code—particularly in ways that could fundamentally alter estate and succession planning for owners of family businesses, legacy real estate, and valuable collections.
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1 month ago | 
fa-mag.com | Matthew Erskine
From January 20, 2025, when the second Trump administration began, until April 4, 2025, the Dow Jones Industrial Average has fallen 12% with U.S. stock markets losing $5 Trillion in value in the last three weeks alone. Based on the Shiller P/E Ratio, the markets, now at approximately 30, could fall another 30% to 22 on the Shiller P/E Ratio scale before finding a floor. Despite this, historically, the stock market does recover its value over time.
