Wealth Strategies Journal

Do More, Better, Faster

529 Plans for Grandparents

Professor Gerry Beyer, on his Wills Trusts & Estates Prof Blog, reports that many grandparents want to help their grandchildren pay for college, but do not know the best way of going about it.  According to a Fidelity Investments study, nearly half of grandparents expect to contribute to their grandkids’ … Continue reading

Charitable Trusts and Estate Planning

| McNees Wallace & Nurick reports that there are several ways that clients can incorporate their desire to benefit charities into an estate plan.

At the most basic level, the Code generally provides for a federal estate tax charitable deduction for amounts passing to charities at death. However, one particularly … Continue reading

Cash Rules Everything Around Millennials: Study

Think Advisor reports that when it comes to risk, millennials aren’t having any — at least for long-term savings.

So say 39% of American adults between the ages of 18 and 29, known as millennials, according to a new Bankrate report. They’re more likely than any other age group to … Continue reading

Spitzer Returns, Taking Aim Again at Financial Analysts

Eliot Spitzer has re-emerged in the public eye. He was again on CNBC to discuss his latest venture, a website called TipRanks, an Israeli start-up that aims to hold financial experts accountable for their stock recommendations. Mr. Spitzer, who is on the company’s board, has also provided significant financial backing … Continue reading

We’re heading into a jobless future, no matter what the government does – The Washington Post

Vivek Wadhwa writes in the Washington Post that in 10 to 15 years at most there will be no roles for humans in the work force.  He writes that:

In an op-ed in The Wall Street Journal, former Treasury Secretary Lawrence Summers revived a debate I’d had with futurist Ray

Continue reading

The robots are coming; advisors, niche now

The National Underwriter reports that the latest trend in our industry is that of the robo-advisor. This has become enough of an issue that advisors across the country are starting to stand up and take notice.  The National Underwriter asks whether advisors are going the way of the milkman (remember … Continue reading

The Reasoning Behind Hoffman’s Surprising Estate Planning Decisions

Professor Beyer, on his Wills Trusts & Estates Prof Blog reports that Philip Seymor Hoffman was worried about his children becoming dependant on a large trust fund and took steps to prevent that outcome, including limiting the uses of the trust for Cooper to “education, support, health, and maintenance.”

Read … Continue reading

Reporting Foreign Account Gifts

Sanford Millar writes that one of the areas of inquiry that is certain to receive increased attention by the IRS and Department of Justice (DOJ) is the claim that the funds in offshore accounts were the result of a “gift”. The proper documentation of gifts is essential. What does proper … Continue reading

Goodwill Owned by a Shareholder Can Provide Tax Planning Opportunities

Baker Donelson writes that a recent U.S. Tax Court case reminds us that the personal goodwill owned by the principal shareholder/employee can provide significant tax planning opportunities. Generally, the sale of assets by a “regular” corporation (i.e., not a “pass through” entity, such as an ‘S’ corporation or a limited … Continue reading

What Donors Need to Know About Appreciated Property

Patterson Belknap writes that individuals considering gifts of appreciated property to charity should be aware that not all property donations are treated equally for income tax purposes. Depending on the class of property, prior use, the donor’s holding period and type of donee, the charitable contribution deduction could be based … Continue reading

« Older posts