Results for "estate planning"

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Advisers use ethical wills to look beyond client assets

June 19, 2018

Sometimes an inheritance is more about the legacy than the assets being passed down, and sometimes it's a little bit of both. Enter, the ethical will, which is also known as a "legacy letter" or "living legacy" by financial advisers helping...

When your client dies, who gets their airline miles?

June 19, 2018

When your client dies, who owns the pictures on their Facebook page? Who has control of their electronic bill-payment sites or bitcoin account? Who is responsible for shutting down or memorializing social media sites? Digital rights ownership...

Stan Lee: Estate planning takeaways from the Marvel legend's elder-abuse saga

June 15, 2018

Financial advisers can draw some key estate-planning lessons from the controversy surrounding Stan Lee, the 95-year-old Marvel Comics legend whose vast fortune is allegedly under attack from financial predators. Mr. Lee, who co-created such...

Advisory firm tapping a philanthropic force with support for India

June 5, 2018

Wayne McDaniel doesn't recall exactly when or how he started feeling philanthropic toward some of India's poorest citizens, but he has never wavered on his commitment to helping make their lives better. "I think almost everybody can do more...

Advisers: Technology alone won't transform your business

May 29, 2018

Technology isn't the magic wand for financial advisers hoping to expand their practices beyond portfolio management services. New tools and platforms can add significant value if used correctly, but most financial advisers are taking the wrong...

How to attract high-net-worth clients

May 3, 2018

In a financial advisor's perfect world, their book of business would contain many high-net-worth (HNW) clients. Unfortunately, this is often not the case. While it sounds ideal to have a book full of HNW clients, attracting and retaining them...

JPMorgan $8 billion loss to widow faces massive reduction

March 30, 2018

JPMorgan Chase & Co. will probably face a judgment of no more than $90 million in a lawsuit claiming mismanagement of an estate that initially brought a jury verdict of $8 billion in punitive damages. In September, a Dallas jury awarded excessive...

Higher estate-tax exemption level could mean less work for advisers

March 22, 2018

For most financial advisers, the tax-reform package has at least temporarily taken estate planning off the table by raising the estate exemption to a level that only affects one-tenth of 1% of taxpayers, or about 1,000 taxpayers per year. "This...

Fintech aims to digitize estate planning

February 14, 2018

Technology has digitized goals- and cash-based planning, but developers have largely ignored the final phase of an investor's financial life — after-death planning. The estate planning world still relies primarily on paper documents and file...

Tax bill creates adviser challenges for long-term planning

January 17, 2018

The biggest problem with the new tax bill, according to Steven Siegel of consulting firm The Siegel Group, is that so much of it is temporary. Nearly every provision passed in the Republican Tax Cuts and Jobs Act will sunset in 2025. A more...

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....

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...

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....

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...

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....

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...

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...

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...

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...

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