Wealth Strategies Journal

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The Computer as a Financial Planner: Robo Advisers

Paul Sullivan, in his weekly New York Times column, Wealth Matters, writes about Robo Advisers.  His article begins as follows:

COMPUTER-GENERATED investment advice has gotten a lot of attention in the last few years. And for good reason.

Many web-based services have given investors with smaller portfolios access to advice

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Financial Planning Software Of The Past, Present, And Future – Calculation, Collaboration, and Continuous Planning

Michael Kitces writes about the ongoing evolution of financial planning software.  His article begins as follows:

For much of its history, financial planning software was basically just an elaborate calculator. Advisors could gather client data, feed it as input to the calculator tool, and the software would spit out the

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AICPA Offers Form 990 Recommendations to IRS

On June 17, 2015, The American Institute of CPAs (“AICPA”) offered more than 40 recommendations to the IRS for the Form 990, Return of Organization Exempt from Income Tax, and instructions.

The recommendations include the following:

  • adding thresholds throughout the instructions at the top of any schedule, part or line that
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Federal Register | Guidance Under Section 529A: Qualified ABLE Programs

The Internal Revenue Service on June 22, 2015 released proposed regulations implementing a new federal law authorizing states to offer specially-designed tax-favored ABLE accounts to people with disabilities who became disabled before age 26.

The Achieving a Better Life Experience (ABLE) account provision was signed into law in December 2014. Recognizing … Continue reading

Sanders Proposes Increased Estate Tax to Reduce Wealth Inequality

Presidential candidate, Bernie Sanders (I-Vt) introduced legislation to increase the federal estate tax.  The press release, which links to Senator Sanders’ legislation and description is as follows:

Sen. Bernie Sanders (I-Vt.) today introduced legislation to increase estate tax rates on the top three-tenths of one percent of Americans who inherit

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Trustees Beware: Which Fiduciary Standard Applies to Your “Business Judgments”?

Michael Grill, of Holland & Knight LLP, writes about what legal standard a trustee must adhere to when he or she also participates in the control of a family or closely held business.  He notes that courts continue to grapple with this question and then notes that the high courts in … Continue reading

Decanting Gone Bad: Harrell v. Badger

Jenna G. Rubin writes about Harrell v. Badger, where the Fifth District Court of Appeal of the State of Florida invalidated a trust decanting.  The end of Ms. Rubin’s blog post, dealing with the decanting issue, is as follows:

The Appellate Court reversed, holding that pursuant to F.S. 736.04117,

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144 years of marriage and divorce in 1 chart

Randal S. Olson, a postdoc at the University of Pennsylvania focusing on artificial intelligence, posted a chart that reflects marriage and divorce rates over the past 144 years in one chart.  It is revealing.  The post begins as follows:

I’ve always been curious about the history of marriage and divorce

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Why Affluent Parents Clam Up About Their Incomes – NYTimes.com

Ron Lieber, of the New York Times, writes about the tendency of affluent parents to not discuss money with their children.  His article begins as follows:

We want our kids to come to us with anything and everything. We try to be as honest as we can about sex and

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Can winning a “defalcation” ruling in a bankruptcy proceeding against your former probate lawyer end up immunizing his insurance carrier from liability?

Juan Antunez summarizes a case where a client won a defalcation case in bankruptcy court against its former probate lawyer, which in turn immunized that probate lawyer’s insurance carrier from liability, which probably was not the client’s intended result.  Mr. Antunez’s  summary concludes as follows:

In estate litigation it’s the

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Final Portability Regs Issued

The IRS released final portability regulations effective June 12, 2015.  The Federal Register Summary reads as follows:

This document contains final regulations that provide guidance under sections 2010 and 2505 of the Internal Revenue Code on the estate and gift tax applicable exclusion amount, in general, as well as on the

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Rules, Strategies, And Tactics When Using Donor-Advised Funds For Charitable Giving

Michael Kitces writes about donor advised funds (“DAF”), focusing on rules, strategies and tactics advisors might employ.  His article begins as follows:

The primary benefit of a donor-advised fund (DAF) is that it allows someone to donate assets for charity today – and receive a tax deduction now – even

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Tennessee Will Witnesses Must Sign Will Itself

Luke Lantta, of Bryan Cave, writes that under Tennessee law, witnesses to a  will signing, must sign the will itself in order for will to be properly executed.  His blog post begins as follows:

Just how strictly does Tennessee construe the formalities relating to the execution of a will?  Very. … Continue reading

U.S. Legal Profession Efforts to Combat Money Laundering and Terrorist Financing by Laurel S. Terry

Laurel S. Terry, The Pennsylvania State University Dickinson School of Law, has made available for download his article, “U.S. Legal Profession Efforts to Combat Money Laundering and Terrorist Financing,” published at 59 New York Law School Law Review 487 (2015). The Abstract is as follows:

This article was prepared for the

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Avoid Being a Defendant: Estate Planning Malpractice and Ethical Concerns by Gerry W. Beyer

Gerry W. Beyer, Professor, Texas Tech University School of Law, has made available for download his article, “Avoid Being a Defendant: Estate Planning Malpractice and Ethical Concerns,” published at 5 St. Mary’s L.J. Mal. & Ethics 224 (2015).  The Abstract is as follows:

An estate planner may become a defendant

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