Wealth Strategies Journal

Do More, Better, Faster

What you should know when thinking about becoming a landlord in retirement

Ilyce Glink and Samuel J. Tamkin report on the costs and benefits associated with becoming a landlord of a formerly primary residence as additional means for retirement.

Living in a home that you own is quite different than becoming a landlord of your former primary residence. For that, you need to … Continue reading

Filing Taxes in Japan Is a Breeze. Why Not Here?

T.R Reid reports on the complexity of filing taxes in the United States, demonstrating that it could be much simpler.

Americans will spend more than six billion hours this year gathering records and filling out forms, just to pay their taxes. They will pay some $10 billion to tax preparation … Continue reading

Men Bet She Would Fail; Now She Runs a $26 Billion Fund

Alexandra Stevenson and Kate Kelly report on Dawn Fitzpatrick becoming the chief investment officer of Soros Fund Management,  which manages around $26 billion of Mr. Soros’s personal and family wealth. She is now the head of a family office for one of the finance world’s most famous investor, facing her … Continue reading

Tracking the Yachts and Jets of the Mega-Rich

Robert Frank reports that the Russian billionaire Dmitry Rybolovlev’s jet and yacht were in some places at times when President Trump or members of his family were in the same area, according to tracking data. Investigations of potential ties between the president and Russia have drawn attention to location-tracking sites.… Continue reading

Giving Like a Rockefeller, Even if You’re Not Super-Rich

Paul Sullivan reports on the Rockefeller legacy of giving.

In his lifetime, Mr. Rockefeller gave away an estimated $2 billion to organizations, from Harvard and Rockefeller Universities to a “Living Pyramid” made of wild grass and flowers in Queens. “No individual has contributed more to the commercial and civic life … Continue reading

New Reporting Regime: Estates Who Have to File Federal Estate Tax Returns Need to be Aware of New Basis Consistency Law 

Eileen Y. Lee Breger, of Bowditch & Dewey, has writing about the basis consistency rules.  Her article begins as follows:

On July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 introduced new tax law that affects executors who are required to file a federal

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Adler Pollack & Sheehan: Dynasty Trusts, Pension Plan Payouts & Stretch IRAs

Adler Pollack & Sheehan have released their April/May 2017 update, which discusses the following items:

  • Protect multiple generations with a dynasty trust
  • What’s the best option for a pension plan payout?
  • The flexibility of stretch IRAs: Learn how your IRA can bene t your spouse and other beneficiaries

Download full … Continue reading

For Those Who Have It All, Charitable Wedding Registries

Paul Sullivan reports that adding a nonprofit organization to a wedding registry is fairly simple using websites like the Good Beginning.

Of course, for many couples, wedding presents give them their start in life. Those sheets, plates and glasses are practical help in setting up their lives together as much … Continue reading

How To Keep Your Law Firm Healthy While Growing Your Practice

Lynn Luong, on Above the Law, writes about how to keep your law firm health while growing your practice.  Her article begins as follows:

Growing your law firm from a solo-practice to a law firm that’s staffed with other attorneys can present a myriad of challenges.  Even if you’re already

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Estates in Land and Future Interests: A Step-by-Step Guide, Fifth Edition

Linda H. Edwards’ new book, Estates in Land and Future Interests: A Step-by-Step Guide (5th ed) has been published by Wolters Kluwer.  The description is as follows:

Accessible and effective, Estates in Land and Future Interests: A Step-by-Step Guide is a user-friendly method for mastering a challenging area of property

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Trump Tax Policy Proposals – April 2017 Update

Paul Caron, author of the Tax Prof Blog, has provided a useful summary of several current articles discussing tax policy proposals in the Trump Administration.  See list by clicking: here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

Double whammy: Federal estate tax repeal could substantially increase tax for California residents

Eric Bardwell writes that proposed legislation in California may result in an federal estate tax repeal resulting in a double whammy for California residents.  His article begins as follows:

With all of the talk about potential repeal of the federal estate tax1, many people have decided to postpone further estate

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A Guide for Challenging a Joint Account Arrangement in Michigan

Thomas Fabbri, of Clark Hill, writes about how to challenge a joint account arrangement in Michigan.  His article begins as follows:

Joint bank account arrangements are as useful as they are common, providing a simple means for transferring an individual’s assets to others – either during his/her life or post

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Boilerplate and Default Rules in Wills Law: An Empirical Analysis by David Horton, Reid K. Weisbord

David Horton & Reid K. Wesbord have made available for download their forthcoming article, “Boilerplate and Default Rules in Wills Law: An Empirical Analysis,” to be published in the Iowa Law Review, Vol. 102 (2017).  The Abstract is as follows:

The prime directive of wills law is to honor a testator’s

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Fiduciary Law’s Mixed Messages by Evan J. Criddle

Evan J. Criddle, of William & Mary Law School has made available for download his article, Fiduciary Law’s Mixed Messages, to be included with the Research Handbook on Fiduciary Law.   The Abstract is as follows:

Nearly a century ago, Judge Benjamin Cardozo famously declared that fiduciaries bear a “duty

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