by
Ray Fazzi
United Capital Financial Partners has completed its acquisition of
Zirkin-Cutler Investments Inc., a Bethesda, Md.-based wealth manager
with more than $1.6 billion under management.
U.S. citizens may
become global "pariahs" when a law forcing foreign banks to report
their accounts takes effect, according to Switzerland's oldest bank.
New tax rules in 2011 will make it very worthwhile for some people to
give big gifts to friends or family.
Estate tax exemption portability was a surprise perk in the recently adopted Obama-Republican tax compromise.
Wilmington Trust Corp., a TARP recipient, took back about $2 million in pay from its CEO because the compensation broke federal
rules.
Modern Bank NA, a lender to the wealthy where former football
quarterback Joe Montana is vice chairman, hired a Citigroup Inc. veteran to lead a turnaround.
hree former UBS AG executives who pleaded guilty or were sentenced in
U.S...
London's commercial property market will probably draw the most
investment for the second consecutive year as prospects of rising rental
income attract cash from far afield.
As more families decide to shrink the lifespan of their foundations, many are expanding the role of their financial advisors.
Families would be able to make tax-free gifts to their children or
others of as much as $10 million, up from the current
$2 million limit, under the tax-cut bill Congress is debating this week.
Tax issues can quickly become dangerous territory for financial advisors as they help people plan.
by
Ray Fazzi
Hard times have pushed single-family offices and their
commercial counterparts together in partnerships only vaguely imagined
before the 2008 financial collapse.
The U.S. Internal Revenue Service dropped its demand for the identities
of Americans who hold secret offshore bank accounts at UBS AG.
Andy Warhol's Coca-Cola bottle painting sold for $35.4 million at Sotheby's, making the artist the star of New York's contemporary art
auctions this week.
The Bush tax cuts are set to expire in just
over a month, sweeping away lower rates on income taxes, dividends,
capital gains and estates. But will tax
rates really go up, and if so, when?
by
Ray Fazzi
A lot of people would rather face anything but their own mortality. So
many don't, leaving their estate plans unmade or out of date.
Dealing with demanding heirs comes with the territory for trust and
estate advisers, but the amount of time and energy spent on them seems
to be growing.
Estate planning often takes place in the office of a lawyer or advisor,
but those professionals can gain a big advantage when they make house
calls.
Most states
don't have laws governing the inheritance rights of children conceived
after a parent dies even as the use of reproductive
technologies has doubled in the U.S. over the last decade.
Though a new definition of the family office signals
status quo for most ultra-wealthy families, it could force some to
register as investment advisers like their commercial counterparts.
