Results for "trusts"

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Buzz Aldrin dust-up highlights the challenges facing older clients

June 25, 2018

Financial advisers working with elderly clients should take heed of the legal brouhaha involving former astronaut Buzz Aldrin and two of his children. Mr. Aldrin, 88, who set foot on moon during the 1969 Apollo 11 mission, has gone to court...

Why the super wealthy may want to fund life insurance with a loan

June 22, 2018

Wealthy clients looking to use life insurance in their estate plans may find that funding their policies with a loan makes sense, especially as interest rates are still relatively low. The goal is to exploit low interest rates to get a cheap...

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 their...

RIAs weigh pros and cons of offering trust services

August 30, 2017

When it comes to trust services, most financial advisers prefer an arm's-length connection that serves client needs but outsources custody and fiduciary responsibilities elsewhere. "There is tremendous responsibility that comes with being a...

Fired UBS adviser revives Palm Beach scandal

August 16, 2017

"Holy crap!" That's how Craig Price, a UBS senior vice president, told securities regulators he reacted when he saw the $2,600 tab for a client-development dinner he attended at an upscale Palm Beach, Fla., restaurant. It wasn't the size of...

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...

Many wealthy Americans haven't planned for the transfer of their assets

January 31, 2017

Affluent Americans aren't doing much to prep the next generation to inherit their riches, creating a wealth of opportunity for financial advisers who can convince clients to focus on legacy planning. Even though about $4 trillion is set to be...

Surprising trials of passing down vacation homes

August 23, 2016

Vacation homes are more prevalent than ever but passing on these cherished properties to the next generation is turning out to be less than delightful in some cases. Parents and their adult children can have different ideas about what's to become...

Advisers to start recommending ABLE plans to clients

June 29, 2016

Financial advisers who specialize in helping families care for children with special needs see the newly available ABLE investment accounts as an important savings vehicle for parents to provide day-to-day and long-term care of a disabled child....

Steering clear of estate food fights

May 15, 2016

The Los Angeles court ruling last week on the advanced health care directive of media mogul Sumner Redstone should serve as a reminder to all of us to plan ahead, especially financial advisers. Time catches up to everyone, and when your mind...

Prince's death sets off estate planning quagmire

April 22, 2016

The death of the virtuoso music artist Prince Thursday set off a countdown until the tax man takes a bite out of the star's estate. Relevant parties must determine just how big Uncle Sam's bite will be. In the case of a musical superstar like...

Planning implications of Obama's budget in one simple chart

February 12, 2016

In the fiscal 2017 budget proposal President Obama sent to lawmakers Tuesday, he revived some ideas that appeared in previous budgets, such as limiting the amount of money that can build up in tax-favored retirement accounts. Michael Kitces...

IRS rethinks rules for savings accounts to care for young people with disabilities

November 20, 2015

The tax-advantaged savings accounts that Congress approved late last year to cover costs of caring for young individuals with disabilities are a step closer to being available. The Internal Revenue Service on Friday issued changes to the proposed...

Dynasty trust planning: a tax-efficient way to manage wealthy families' assets

August 31, 2015

Wealthy families have been taking advantage of an extremely beneficial estate-planning tool that advisers should be aware of. It allows individuals to pass millions — and in some cases billions — of dollars to children, grandchildren and...

Could Bobbi Kristina Brown have been better protected by Whitney Houston's estate?

July 28, 2015

Pop star Whitney Houston could have done more to protect her now-deceased daughter Bobbi Kristina Brown if she had ever edited the will that she created while she was pregnant with her only child, estate planning lawyers said. Ms. Houston's...

Donald Trump's investment portfolio a messy hodgepodge: advisers

July 23, 2015

Presidential hopeful and real estate mogul Donald J. Trump's investment portfolio reveals a scattered approach to money management, with a collection of hedge funds, stocks and cash across brokerage accounts. A new 92-page report provides a...

Portability is an area where investors need advice

July 20, 2015

With final rules out just last month, portability is an area of tax planning in which wealthy clients need help from financial advisers. “Portability is a game-changer that has not fully seen the impact on planning,” said Dennis Belcher,...

Asset managers beat the bushes to woo reclusive family offices

May 26, 2015

It was an invitation too good to resist. Matthew McCarthy was asked by KKR & Co. to fly to New York from Ohio, where he manages money for the founders of a consumer-products company. First, he had dinner with KKR's billionaire co-founder Henry...

Everything you need to know about setting up a private foundation

March 17, 2015

Tax season is always a good time to talk about charitable giving goals for the next year — and if those goals are large and long-term, clients might want to learn more about private foundations. Charitable giving has become a centerpiece of...

Why President Obama's estate tax proposal is a big deal

February 6, 2015

President Barack Obama whipped up the class warfare argument with his estate tax proposal in the State of the Union address. Let's explore the estate tax and the step-up in basis, and their influence on taxable investors. When a person dies,...

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