On paper, a mere ten percentage points and 2,860 wealthy taxpayers
separate Republicans and Democrats in the fight over taxing
multimillion-dollar estates. The political differences loom larger.
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.
by William A. Lowell and Kristin T. Abati
Low interest rates and changing laws mean rethinking wealth transfer strategies.
by Bruce W. Fraser
Major changes in attitudes and tax laws may affect the philanthropic advice you give clients.
Transferring assets to your children in order to qualify for government
benefits is a fairly standard practice these days, but the move can
cause problems if it's not done properly.
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many don't, leaving their estate plans unmade or out of date.
by Andrew Gluck
If you haven't kept up with estate-tax opportunities because they're a complicated mess, now's the time to re-engage.
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.
With credit easing but the economy still weak,
small-business owners looking to sell their stakes are turning more
often to Employee Stock Ownership Plans.
Estates are
often shrouded in some mystery even for the people who plan and manage
them.
Many parents are saving more of their estate for their own expenses,
and shrinking the amount they plan to leave for heirs.
Even as their numbers continue to grow, African-Americans conceivably
constitute one of the great untapped markets when it comes to financial
services.
by Roy Diliberto
As financial life planners, we need to be watchdogs for inappropriate advice that others suggest to our clients.
by Ben Mattlin
As trusts grow more popular, the need to appoint the right trustees becomes crucial.
When a child grows up, falls in love and marries, his or her parents
may not share the warm feelings-or want to share their wealth.
While this year's lapse in the estate tax hogs the spotlight,
a lesser-known gap is offering many affluent older people a tax-free
way to pass on some of their wealth to grandchildren.
