Wealth Strategies Journal

Do More, Better, Faster

Author: Allison Trupp (page 1 of 13)

Which Client Pitches Work? by Gary J. Ross

In a somewhat satirical post, Gary J. Ross gives some insight into client pitch decks that he has used and encountered. He begins,

In Biglaw, I often helped prepare client pitch decks, but I was never in the room when the pitch was made, at least that I recall. In

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United States of America v. Holmes et al

In an opinion released in mid-August, the US District Court for the Southern District of Texas came to a decision on the case of United States of America v. Barbara Holmes, et al. The suit sought to collect unpaid estate taxes to the IRS from an executrix and her husband … Continue reading

Why Some Life Insurance Premiums Are Skyrocketing by Julie Creswell and Mary Williams Walsh

In their article, Julie Creswell and Mary Williams Walsh comment on a problem that is plaguing the aging generation in the US. Insurance companies are finding it more and more difficult to pay their policy holders with interest rates so low. The article explains,

Around the world, life insurers are

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New Duke of Westminster Is Youngest Among World’s 400 Richest by Tom Metcalf

After his father’s sudden death, Hugh Richard Louis Grosvenor became the 7th Duke of Westminster. The 25 year old heir has now inherited the family’s $12.3 billion fortune. Tom Metcalfe’s article on the news begins,

Hugh Richard Louis Grosvenor, who became the 7th Duke of Westminster after the sudden death of

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A Protector by Any Other Name… by Alexander A Bove, Jr.

Alexander A Bove, Jr., Bove & Langa, P.C., has made available for download his paper, “A Protector by Any Other Name…” The abstract reads,

An idea has developed in the domestic and international community of trust law that has, in a sense, revolutionized the drafting and administration of trusts. It allows

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Wills and Survival by Richard F. Storrow

Richard F. Sorrow, City University of New York School of Law, has made available for download his article, “Wills and Survival.” The abstract is as follows,

This Article examines the rule of lapse in wills law, discusses how efforts to reform the damage it does has led to the doctrine of

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Financial Advisers Can’t Overlook the Prudent Investor Rule by Max M. Schanzenbach, Robert H. Sitkoff

Max M. Schanzenbach, Northwestern University – Pritzker School of Law, and Robert H. Sitkoff, Harvard Law School, have made available for download their article, “Financial Advisers Can’t Overlook the Prudent Investor Rule.” The abstract reads,

This article calls attention to the Department of Labor’s imposition of the “prudent investor rule” on

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IRS Final Regulations (T.D. 9781) on PTIN User Fees

The IRS has issued final regulations (T.D. 9781) regarding,

the imposition of certain user fees on tax return preparers. The final regulations supersede and adopt the text of temporary regulations that reduced the user fee to apply for or renew a preparer tax identification number (PTIN) from $50 to $33.

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IRS to Invalidate Unused ITINs Unless Renewed by Daniel Janovitz

Daniel Janovitz, Holland & Knight LLP, comments on a recent change by the IRS which will require individuals with old or inactive ITINs to renew them. The renewals are explained in Notice 2016-48. Janovitz summarizes,

The Internal Revenue Service (IRS) is requiring individuals with inactive or old individual taxpayer identification

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IRS Releases Revenue Procedure 2016–41

In a news bulletin released late last month, the IRS issued a Revenue Procedure, 2016–41. The document’s purpose is to,

sets forth the procedure for an organization to notify the Internal Revenue Service (IRS), consistent with section 506 of the Internal Revenue Code (Code), that it is operating as an organization described in

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New Medicare Law to Notify Patients of Loophole in Nursing Home Coverage by Robert Pear

Robert Pear discusses a new Medicare law in effect as of this month which requires hospitals to notify patients of extreme out of pocket costs they may incur if they stay in excess of 24 hours without being admitted. Pear elaborates,

The text of the standard “Medicare outpatient observation notice” is subject

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States Vie to Shield the Wealth of the 1 Percent by Patricia Cohen

In her article, Patricia Cohen discusses a tactic many estate planning lawyers are using to protect the wealth of the superrich, with a specific focus on Nevada, Delaware and other states. Cohen elaborates,

Yet even as more and more states seek ways to help the richest Americans protect their wealth

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Rubin on Tax: Some Food for Thought – Code Section 2704 Proposed Regulations

Tax blogger Charles Rubin has provided some commentary on the proposed regulation to Section 2704 by the IRS. He says,

As the proposed regulations are digested by practitioners, here is some food for thought:

a. Will GRATs be underwater from the start – that is, nondiscounted values for the funding

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New North Carolina Law Allows Fiduciaries Access to Digital Assets, but Only If … by Jean Gordon Carter, Andrea C. Chomakos, Melissa L. Kreager and E. Graham McGoogan Jr.

An issue that is becoming more and more relevant in recent years is digital assets, specifically what becomes of them after an individual becomes incompetent or dies. In their article, Jean Gordon Carter, Andrea C. Chomakos, Melissa L. Kreager and E. Graham McGoogan Jr. discuss a new North Carolina law granting … Continue reading

Rethinking Premarital Agreements: A Collaborative Approach by Elizabeth Ruth Carter

Elizabeth Ruth Carter, Louisiana State University, Baton Rouge – Paul M. Hebert Law Center, has made available for download her paper, “Rethinking Premarital Agreements: A Collaborative Approach.” The Abstract reads,

Scholars and lawyers have told us to be wary of premarital agreements — unfairly characterizing them as being coercive, unfair, sexist,

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