Massive Art Forgery Ring Reinforces Need for Vigilance Among Buyers
Conduct due diligence. Always ask questions and conduct research to find out about the work of art’s history, as well as exhibition and literature citations prior to purchase. Ideally, a buyer should be able to trace the history of the painting all the way back...The Long and Short of REITs
Try to guess the best inflation hedge of this century.Thinking of stocks? Bonds? Gold? Nope. You should be thinking of real estate, specifically real estate investment trusts (REITs). REITs, as a class, have produced positive real returns in 14 of the past 16...International Investors and California: Roundtripping | California CEO Magazine
For international investors who want to thrive in the California lifestyle, they face three different issues: immigration status, business investment and tax planning. For these clients, I recommend they consider “Roundtripping”, (i.e., they invest in a CA...Cancer fails to stop woman from serving Santa Ana’s homeless
This woman is an inspiration, leaving a rich legacy of charity. But note part of the reason she is able to do this: Finances aren’t a worry: A long-term disability policy she invested in provides 70 percent of her wages; Guy Morrison continues to work as a physical...Five Ways Technology Will Change How Your Clients Age
Advisors can steer clients towards the technology that will help them in old age. Here are the top five ways. Source: Five Ways Technology Will Change How Your Clients AgeTen Podcasts that Will Give You an Edge in 2017
If you’re looking for a way to stay current and learn about the finer points of investing, sales, and leadership, look no further than these new podcasts. Source: Ten Podcasts that Will Give You an Edge in 2017Protect Your Family From Identity Fraud
Personally, I think this is the best of the several solutions discussed: Another way for clients to avoid new account fraud is to put a freeze on their credit report with all three bureaus, which prevents anyone else from opening accounts in their name. There is...Impact if Federal Estate Tax Repealed
Practitioners should review options with clients that might include: Outright bequest to surviving spouse, with contingent disclaimer trust, subject to the problems that this approach creates Clayton QTIP approach, subject to the complexity it creates...New Filing Requirements for Foreign-Owned Disregarded Entities
On Dec. 12, 2016, the Treasury Department and the Internal Revenue Service announced final regulations (issued in proposed form on May 5, 2016) requiring domestic disregarded entities with foreign owners to file Form 5472 information returns with the IRS...Indispensable: How Philanthropy Fuels American Success (Karl Zinsmeister – Acton Institute) – YouTube
Interesting speech below on crucial importance of philanthropy, even for national defense:The Secret Feature of Series EE Savings Bonds
Hopefully your working clients are maxing out opportunities to save all they can into 401(k)s, IRAs and Roth IRAs. Those who still have money left over should consider purchasing Series EE savings bonds with any extra funds. In the short term, they will get...A Practical Guide to Trustee Selection: A Review of the Most Common Tax (and Nontax) Traps
When it comes to modern-day estate planning, trusts invariably are an integral part of the structure. In the authors’ daily reviews of trusts, they have found that thoughtful planning can at times be rendered problematic due to trustee selection. The consequences can...Philanthropic Planning Challenges … Mission Possible or Impossible?
While it’s important that charities and their staff understand how to match various tools, such as charitable remainder trusts (CRTs), charitable lead trusts (CLTs), charitable gift annuities and other gift plans with the needs of their donors, which may...Fusing Family and Philanthropic Visions
Wealthy families can now transfer wealth to children and grandchildren at a transfer tax discount of up to 50 percent, while receiving up to a 50 percent current charitable income tax deduction—all while avoiding tax on the subsequent sale of appreciated...Special Needs Trust Fairness Act Becomes Law
On Dec. 13, 2016, President Obama signed the 21st Century Cures Act (H.R.34 — 114th Congress (2015-2016)). Section 5007 of the Act, titled “Fairness in Medicaid Supplemental Needs Trusts” incorporates language from the Special Needs Trust Fairness Act of 2015...Leverage-Loving Millennials Suckered by Financial Press into Betting Against Trump
“From triple X leveraged products to Vanguard, Millennials have shown they favor the extremes in terms of their growing ETF usage,” said Bloomberg Intelligence ETF Analyst Eric Balchunas. “However, when it comes to calling the Trump rally,...What Trump Could Do to Your Clients’ Retirement
Caveat emptor: “That’s where the big money is,” said Barbara Roper, director of investor protection for the Consumer Federation of America in Washington, D.C. “And right now there’s a lot of incentive to encourage people to roll over even when they’d be...Wall Street 2017 Forecasts Are Doomed If Trump Doesn’t Follow Through
Who believes anything the financial press says anymore? They have no credibility. Title says forecasts are “doomed” yet the article says strategists are hedging. Well, which is it? It’s funny to watch the money world squirm as it comes to...Twelve “Star Wars” Lessons For Becoming A Financial Planning Jedi
A truly nerdy advisor with too much time on his hands put this together. Why nothing on Star Trek TOS? In preparation for “Rogue One: A Star Wars Story,” here are 15 lessons from the film series to help you be a financial planning Jedi. Source:...World’s oldest man Mbah Goto celebrates what he claims to be his 146th birthday
He has outlived all 10 of his siblings as well as his four wives, the last of whom died in 1988. All of his children have also died, and now he is survived by his grandchildren, great grandchildren, and great-great grandchildren. Source: World’s oldest...Growing Number Retire Abroad
Just under 400,000 American retirees are now living abroad, according to the Social Security Administration. The countries they have chosen most often: Canada, Japan, Mexico, Germany and the United Kingdom.Retirees most often cite the cost of living as the...Congress could put an end to inherited IRAs for non-spousal beneficiaries
The Senate Committee on Finance voted 26-0 in September to kill the “Stretch IRA” for non-spousal beneficiaries — putting trillions of dollars of legacy wealth in danger of being collected by the tax man.“This is going to be big,” said James Lange, a Squirrel...When Roles Reverse: Caring for Mom or Dad
QUESTIONS FOR FAMILY DISCUSSIONS What do you hope for in your or your loved ones’ stages of frailty (older age or illness)? What do you hope for your family as a whole during these times? What are some fears and worries about aging (your own or when your parents,...The Money Talk With Your Parents: Do It This Weekend
(Bloomberg) –Guess how many people between the ages of 50 and 80 think that one day they won’t be able to manage their day-to-day finances? Nine percent. And how many of them have watched friends or family lose that ability? Sixty percent. Source: The...Ten High Net Worth Lessons From Christmas Movies
All good points, if you can ignore the liberal hogwash in Point 3. Here are a few lessons on working with high net worth clients to think about while you watch all of the classic Christmas movies. Source: Ten High Net Worth Lessons From Christmas...Pennsylvania man, 89, heads out to store, ends up in Alabama
A reminder that dementia is progressive and at times accompanied by long periods of lucidity. Get any necessary estate planning done as soon as possible and of course, include a health care directive — which you can get free by attending our free estate planning...#AssetProtection: Charitable Gift Annuities May Answer the Fixed Income Question
A charitable gift annuity can provide a surrogate for fixed income during retirement in an environment of low interest rates that may linger for decades. Source: Charitable Gift Annuities May Answer the Fixed Income QuestionAdvisors on the Trump Administration
WealthManagement.com polled nearly 350 advisors in the wake of Donald Trump’s victory to seehow they think a Trump presidency will affect their business. Source: Advisors on the Trump Administration#AssetProtection: Senate Republicans May Oppose Trump Tax Cuts
It will be awhile before we know how all this may affect estate tax repeal: President-elect Donald Trump’s race to enact the biggest tax cuts since the 1980s went under a caution flag Monday as Senate Majority Leader Mitch McConnell warned he considers current levels...#AssetProtection: Estate Tax Repeal to Get Big Push in New Congress
I hope it happens, as there is plenty for families to plan for besides taxes. If it does happen, my clients with the latest planning are prepared. Currently, individuals can inherit estates worth up to $5.45 million without being taxed. Estates valued over that...#AssetProtection: New Zealand man latest to claim Prince as father
Estate planning is a cost of doing family. Failing to plan is an act of violence against family. New York (AFP) – A New Zealand man is the latest person to say he is pop icon Prince’s heir after a judge dismissed a series of other claims, court...#AssetProtection: Unhappy Voters Looking to Move Abroad
Since the United States presidential election last month, some U.S. citizens have inquired about moving abroad. How we advise them depends on their objectives. Does the client merely want to live in another country for a limited number of years, or does she...#AssetProtection: Six Tips For Depression Era Trusts’ Judgment Day
During the 1930s, there was a spike in the number of trusts created as wealthy families responded to steep increases in federal gift and estate tax rates. These trusts are now approaching mandatory termination dates and advisors must consider how best to help...#AssetProtection: Hedge Fund Flows Turn Negative
Hedge fund managers promise different strategies: Absolute returns, non-correlated returns, amplified returns – and exclusivity. The goal, many fund managers will say, is not to beat the market, but to provide a hedge, meaning access to uncorrelated...#AssetProtection: Top 10 Security Tips for Cars During Holidays | Mr. Locksmith Video – YouTube
And while you are at it, protect your little ones, and learn the proper way to store a gun in your car or on your person: http://guntrust.org#AssetProtection: How “Gamification”’ Can Improve Family Education and Engagement
Family businesses spend an extraordinary amount of time and capital (financial, human and intellectual) on skill building and education within the family system. Rising members of the family system must master many different skills. Some of these skills can be...#AssetProtection: Avoiding Bypass Trust “AB Trap” of Capital Gains Tax
For many client situations, I continue to be a big proponent of using the Clayton election for flexibility in this age of estate tax uncertainty. The Clayton election continues to be the smart way, for many families, to avoid the “AB Trap” of capital gains...#AssetProtection: Twelve Things You Need to Know About College Loans
As higher-education prices continue to rise steadily across the country, parents face the challenge of covering these costs as their kids head to college.A growing number of families have been turning to college loans to ease the financial pinch.Here are 12...#AssetProtection: Fix Delayed for Private Foundation Excise Tax Trap
The PF excise tax provision would collapse the current two-tier tax—some pay 2 percent and some pay 1 percent on investment income—to a straight 1 percent tax. Here’s how it goes. PFs are required to pay a 2 percent excise tax on investment income every year....#AssetProtection: Risks and Opportunities for Your Clients Under President-Elect Trump
As always, flexibility is key: Recommend cautious optimism. The elimination of the estate tax in particular is likely to be welcome news to your higher net worth clients, but the proposal may be subject to opposition or compromise in Congress. This compromise could...#AssetProtection: Employment Tax Liability and Disregarded Entities
While it should go without saying, a business owner should intentionally choose its structure and tax status and accept the related tax and governance implications. Inadvertently forming the wrong entity could have costly consequences. In this case, it seems...#AssetProtection: America Sets the Bar Among Global Wealthy
According to the recently released Credit Suisse Research Institute 2016 Global Wealth Report, roughly half of worldwide ultra high net worth (UHNW) individuals (defined as those with $50 million or more), live in the U.S. This number dwarfs the figures of the...#AssetProtection: Why “bypass” trusts still matter
From WealthCounsel VP Matt McClintock: Increasing asset protection for the surviving spouse and others. Depending on the trust design, a bypass-type trust can provide greater asset protection than a QTIP marital trust. A bypass trust can have multiple discretionary...#FamilyProtection: ‘Brady Bunch’ (Blended Family) mom Florence Henderson dies at 82
The real Florence Henderson also had a blended family — she got divorced and remarried after some 30 years in a marriage that produced four kids. Blended families (extant or future, through remarriage) are extremely common and good, comprehensive estate...#AssetProtection: Remind Clients of Importance of Updating Estate Plans
[Updating is less of a problem for our clients who participate in our Client Maintenance Program.] Below article lists many reasons for updating — some get press, others seem mundane: For example since August, the estate-planning world has been abuzz...#AssetProtection: The nasty rise of ‘flash mob robbers’ – MarketWatch
Asset protection, family protection — have you noticed there is quite a bit of crossover? Often in groups of up to 15 people, the bandits burst into a store, make a beeline to the lucrative goodies and quickly pillage the shelves. (High-end jeans and cosmetics...#AssetProtection: #BlackFriday Madness
Violence across America today, Black Friday. Meanwhile, at a Walmart parking lot… One person has died in a shooting outside of a Macy’s department store in New Jersey and another was shot dead in an apparent road rage incident in a Walmart parking lot in...#AssetProtection: Trumpeting 10 Year-End Tax Strategies Before They Evaporate
In light of Donald Trump’s election and his pre-election platform to reduce marginal income tax rates, there are several planning strategies that should be considered as part of your client’s year-end planning. John O. McManus, founding principal of McManus &...#AssetProtection: Tax Reform Is On Big Time
The insular planning community (or at least, the insular planning press) didn’t plan very well for Trump, now is playing catchup: The first few days after the election Washingtonians were walking around in a daze. The trajectory of policy and politics...
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