Wealth Strategies Journal 2.0 (Beta)

Elder Law Toastmasters: Speaking to Professionals As a Marketing Tool

Thu, 02 Sep 2010 12:56:31 -0500

Elderlawanswers.com recently published an article discussing the importance of speaking to professionals as a marketing tool. Specifically, they advice discussing with financial planners, accountants, and others who work with seniors as a way to market elder law services. The article also discuss the importance of differing the presentation between a consumer of the legal service from a professional who advises seniors.

Please click here to read the entire article.

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.

Robert Rubin and Julian Robertson: Bring Back the Estate Tax Now

Thu, 02 Sep 2010 12:39:00 -0500

Robert Rubin, former secretary of the US Treasury and co-chairman of the Council on Foreign Relations, and Julian Robertson, chairman of Tiger Management LLC, published an article for the Wall Street Journal entitled: Bring Back the Estate Tax Now. Rubin and Robertson propose that the estate tax be placed at the 2009 rate. Specifically, they contend that the estate tax has the least economic impact on the economy and continue to reinforce the philosophy meritocracy.

Please click here to read the entire article.

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.

Business Succession Planning With the Four Levels of Ownership and Control

Thu, 02 Sep 2010 09:28:56 -0500

The Wealth Strategies Journal has published a new article entitled "Business Succession Planning With the Four Levels of Ownership and Control" by Gregory Monday of Foley & Lardner LLP.

Paying Attention to Buy Sell Agreements

Wed, 01 Sep 2010 19:39:03 -0500

The Aspen Family Business Group has released its latest monthly newsletter. This issue provides guidance on how to properly navigate Buy Sell Agreements "documents the terms and conditions for a sale of business interests under given triggering events" like death or divorce. Often these documents fail to accomplish the intentions of the shareholder; to avoid such disappointments, Buy Sell Agreement must receive "timely review and attention" to make sure that its "original objective are still valid."

You can subscribe to the Aspen Family Business Group publications here.

Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal

Farmers Waiting for Bill on Estate Tax Reform

Wed, 01 Sep 2010 19:30:09 -0500

The Franklin News Post of Rock Mountain, Virginia has published an article that addresses the estate tax debate and its effect on small businesses and family farms. The article suggests that the 55% rate scheduled to return at the beginning of next year will "be crippling for all of America's economy because it would affect virtually every small business and farm in the nation." Specifically, the high rate could damage the integrity of businesses relying on "extensive equipment assets."

Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal

U.S. Tax Court: Nonprofit Organization Not a Church; Associational Aspects Lacking

Wed, 01 Sep 2010 19:13:48 -0500

In a recent newsletter, CCH, a tax services conglomerate, highlighted a decision by the Tax Court that the California-based Foundation of Human Understanding is not a religious organization "because its associational activities were incidental to its primary functions of writing, publishing and distributing religious literature." The organization was unable to present convincing evidence that it offered "the opportunity for its individual congregants to interact and associate with each other and develop a fellowship by worshiping together."

Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal

Part IV: An Introduction to Lesser Known But Useful Trusts

Wed, 01 Sep 2010 13:56:42 -0500

The Wealth Strategies Journal has posted a new article entitled Part IV: An Introduction to Lesser Known But Useful Trusts by Wendy Goffe of Graham & Dunn. This is the fourth in a six-part series by Ms. Goffe.

Part IV includes an analysis on constructive trusts.

Please find the article by clicking here.

September 14, 2010: Pulling Back the Curtain: Dealing with Oft-overlooked State Death Taxes

Wed, 01 Sep 2010 13:00:56 -0500

The American Bar Association Section of Real Property, Trust & Estate Law will be hosting a 90-minute teleconference & audio webcast on September 14, 2010 entitled:

Pulling Back the Curtain: Dealing with Oft-overlooked State Death Taxes

Click here for more information

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.

Two U.S. Senate Candidates from Maryland Sign Death Tax Repeal Pledge

Wed, 01 Sep 2010 12:51:10 -0500

Citybizlist.com reports that two candidates for the United States Senate in Maryland have signed a pledge to repeal the estate tax. Specifically, the article notes that candidates Dr. Eric Wargotz and Jim Rutledge have signed the pledge.

Please click here to read the entire article.

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.

Mark Klimek: Practice Management: Doing Nothing Not An Option For Estates

Wed, 01 Sep 2010 12:42:14 -0500

Mark Klimek published an article in the Wall Street Journal. Klimek discusses why it may be important to consider certain estate planning strategies even when the future needs are uncertain.

Please click here to read the article.

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.

McGuire Woods to Host Chicago Conference for Corporate Fiduciary Issues

Tue, 31 Aug 2010 10:35:09 -0500

McGuire Woods LLP and Fiduciary Education Center, LLC are hosting a conference regarding issues facing corporate fiduciaries. The conference will be held on Thursday, October 21, 2010 at the Mid-America Club in Chicago. The cost is $150 per attendee. More information can be found here.

Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.

PLR 201034008, 201034009, and 201034013: IRS Grants Extension to Allocate GSTT Exemption to Trusts

Mon, 30 Aug 2010 23:07:51 -0500

In Private Letter Ruling 201034008 and 201034009, the IRS granted a decedent and his widow an extension to allocate their generation-skipping transfer tax (GSTT) exemption to transfers to two trusts. Also, in Private Letter Ruling 201034013, the IRS granted an individual an extension to allocate his GSTT exemption to transfers to four trusts.

Posted by Wesley J. Bailey, Senior Associate Editor, Wealth Strategies Journal.

Ike Z. Devji: Asset Protection 101 for Physicians

Mon, 30 Aug 2010 15:21:05 -0500

Ike Z. Devji has published an article entitled, "Asset Protection 101 for Physicians." The article addresses ways for doctors to protect their wealth from litigation and other possible pitfalls.

Please click here to read the entire article.

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.

Nancy Mann Jackson: All About Your Employee Stock Ownership Plan

Mon, 30 Aug 2010 14:46:06 -0500

Nancy Mann Jackson has published an article on bankrate.com entitled, "All About Your Employee Stock Ownership Plan." Jackson highlights a Georgetown University study that finds companies that offer stock ownership plans fare better in recessionary economic conditions than those that do not. Specifically, Jackson discusses how this can be a good tool for retirement planning but also advises retirees to take caution before relying too heavily on these plans.

Please click here to read the entire article.

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.

Paul Sullivan: A Year to Give to Your Heirs, and Save on Taxes

Mon, 30 Aug 2010 14:34:07 -0500

Paul Sullivan has published an article in the New York Times discussing the tax benefits of giving a gift this year instead of having to incur the potential of a greater estate tax in the coming years.

Please click here to read the entire article.

Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.