Results for "estate planning"

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Filial laws put kids on the hook for parents' health-care costs

November 22, 2017

State laws known as filial responsibility laws have the potential to stick unwitting family members with relatives' hefty long-term-care costs. One of the best-known examples comes from a court case in Pennsylvania, in which a man was ordered...

Repealing estate tax could open new path to wealth for clients

November 14, 2017

As House and Senate Republicans pursue competing tax overhaul plans, financial advisers should be aware that one big disagreement is the estate tax. House Republicans want to repeal it in 2024 while their Senate colleagues want to preserve it....

Odds are, the $700M Powerball winner will need lots of advice

August 23, 2017

Even if the odds of winning the $700 million Powerball jackpot on Wednesday are 292.2 million to one, and even if you've got a better chance of being attacked by a shark that then gets struck by lightning, it could happen. And that's where the...

How will Hugh Hefner's estate 'look after' his widow's finances?

September 29, 2017

Hugh Hefner, the media and cultural icon who died Wednesday at age 91, left behind a sizable estate with an estimated value of more than $40 million, not including the $100 million sale of his home — the Playboy Mansion — last August. Mr....

Improving the efficiency of wealth transfers

July 19, 2017

The last 30 years have revealed deficiencies in traditional estate planning. A huge transfer of wealth from the greatest generation to baby boomers was predicted; much less was actually transferred. There is significant research about the discrepancy...

HUD announces new reverse mortgage rules

August 30, 2017

In a surprise move, the Department of Housing and Urban Development (HUD) announced new rules Tuesday for the government-backed reverse mortgage lending program that allows senior homeowners to tap the equity in their homes while they age in...

Trump administration scrapping estate-tax rule affecting wealthy business owners

October 5, 2017

The Treasury Department is withdrawing a proposed regulation that would have changed how wealthy business owners can pass on businesses to children and other heirs. Currently, individuals are able to discount valuations of stakes in family-controlled...

More than a decade later, housing bust still hurts

August 17, 2017

Home prices peaked in April 2006, and have yet to rise above that level. More than a decade and thousands of foreclosures later, advisers are still dealing with problems from the housing collapse. The S&P/Case-Shiller 20-City Composite Home...

Advisers see benefits in Trump tax plan, but have many questions

September 27, 2017

Financial advisers identified potentially lower tax rates on businesses structured as pass-through entities as a boon under the tax plan presented Wednesday by President Donald J. Trump, but identified several unknown variables, such as capital...

Why most of your richest clients are also the oldest

August 23, 2017

Six of the 25 richest Americans are over 80, according to the Bloomberg Billionaires Index. Carl Icahn and Charles Koch, for example, are 81. Earlier this month, Sheldon Adelson turned 84 and George Soros hit 87. Warren Buffett, the fourth-richest...

Help clients make a swift evacuation from Hurricane Irma with this checklist

September 7, 2017

Planning ahead for an unexpected storm or fire can help protect your clients' personal and financial well-being. Consider these recommendations for sharing with clients to help them protect important documents and make a swift, safe evacuation....

Killing estate tax could kill charitable giving

August 25, 2017

Most Republicans support killing the estate tax as part of a tax overhaul, but doing so could have dire consequences for something else conservatives cherish -- charitable giving. President Donald Trump along with top GOP lawmakers have proposed...

Most estate plans aren't dealing with digital assets properly

May 11, 2017

Estate planning is an unpopular topic because it often deals with the harsh realities of loss and death. Far too many people do not have an updated estate plan that meets their current needs, goals or desires. However, having a written estate...

What the loss of Prince can teach us about estate planning

May 5, 2016

For many people, thinking about what will happen to their estate after they die is too uncomfortable or too complicated of a topic to tackle. Some decide to wait. Some decide that a plan is not necessary. Others simply never get to it. But for...

Yours, mine and ours: An estate planner's nightmare

June 21, 2015

Every day, we hear about the many challenges of an aging population. With advancing age comes those hard-to-discuss end-of-life planning issues, something with which financial advisers are all too familiar. And we know most advisers want to...

Clients need to talk more to their heirs about their estates: study

March 15, 2017

Most parents want to leave an inheritance to their childen, but few are taking the time to discuss their plans with their kids or even asking their children what their expectations are. Amerprise Financial found that that 83% of those it surveyed...

Families at odds over estates, Fidelity study finds

February 1, 2017

When it comes to discussing their estates, it turns out that parents and their adult children are rarely on the same page, according to a recent study by Fidelity Investments. Although 90% of families say it's important to have frank conversations...

Without a will, Prince lost control of his music

January 19, 2017

During a career spanning almost four decades, Prince broke with his record label, changed his name and yanked his songs off popular streaming services to prove a point: No one could tell him what to do with his music. Though the impulse to control...

Nearly 60% of Americans don't have wills

February 6, 2017

Only 36% of U.S. adults with children under age 18 have a will or living trust, and just 42% of all U.S. adults have such documents, a new study from Caring.com finds. Older Americans are better prepared than younger ones, with 58% of Baby Boomers...

Estate-tax flux could boost grantor trusts

February 5, 2017

With the federal estate tax in flux, advisers may want to consider planning strategies that afford some measure of flexibility. For example, there's the grantor trust, a common type of irrevocable trust. (More: What will the estate tax look...

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