Issue 29: 2015

President’s Letter

A Message From Keith Banks

Photograph by David Hume Kennerly

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Our goal at U.S. Trust is to meet the broad range of wealth management needs for you — and your family. We recognize that your individual needs are often closely connected to other family priorities, that your financial and planning goals are part of a bigger picture that includes the requirements of your family, your aspirations for the future and your philanthropic and legacy objectives.

One particularly important and sensitive area for families is cognitive health. While the subject has thankfully been receiving greater media attention lately, the fact is that many people are still reluctant to talk about cognitive decline or plan for its possibility with regard to themselves or their loved ones. While that is perfectly understandable — the subject is frightening and conversations can be difficult — ignoring the issue can make matters even worse.

The right information can empower families with proactive strategies designed to help ease the legal, financial and medical responsibilities. Identifying needs, concerns, preferences and goals ahead of time — when decisions are much easier to make — and working with skilled professionals can help you and your loved ones maintain control, even in the face of cognitive decline.

Our cover story, “Memory and Your Family,” takes a close look at the risks of doing nothing, when and how to have difficult conversations, and the most appropriate legal and financial planning strategies for you and your family.

Elsewhere in this issue, we explore the current investment outlook, including articles about disruptive technology and ways of investing directly in commercial real estate. We are also proud to highlight Bank of America’s long-standing involvement with the Special Olympics. We’re particularly proud of our role as presenting sponsor for the Unified Relay Across America, and the article discusses ways you can participate in the historic event.

I hope you find this issue as insightful and valuable as I do. As always, if you’d like to discuss any of these articles further, please reach out to your advisor.

Keith T. Banks

President
U.S. Trust, Bank of America Private Wealth Management

Our goal at U.S. Trust is to meet the broad range of wealth management needs for you — and your family. We recognize that your individual needs are often closely connected to other family priorities, that your financial and planning goals are part of a bigger picture that includes the requirements of your family, your aspirations for the future and your philanthropic and legacy objectives.

One particularly important and sensitive area for families is cognitive health. While the subject has thankfully been receiving greater media attention lately, the fact is that many people are still reluctant to talk about cognitive decline or plan for its possibility with regard to themselves or their loved ones. While that is perfectly understandable — the subject is frightening and conversations can be difficult — ignoring the issue can make matters even worse.

The right information can empower families with proactive strategies designed to help ease the legal, financial and medical responsibilities. Identifying needs, concerns, preferences and goals ahead of time — when decisions are much easier to make — and working with skilled professionals can help you and your loved ones maintain control, even in the face of cognitive decline.

Our cover story, “Memory and Your Family,” takes a close look at the risks of doing nothing, when and how to have difficult conversations, and the most appropriate legal and financial planning strategies for you and your family.

Elsewhere in this issue, we explore the current investment outlook, including articles about disruptive technology and ways of investing directly in commercial real estate. We are also proud to highlight Bank of America’s long-standing involvement with the Special Olympics. We’re particularly proud of our role as presenting sponsor for the Unified Relay Across America, and the article discusses ways you can participate in the historic event.

I hope you find this issue as insightful and valuable as I do. As always, if you’d like to discuss any of these articles further, please reach out to your advisor.

Keith T. Banks

President
U.S. Trust, Bank of America Private Wealth Management