Search Results

By limiting the deductibility of investment-managing expenses by trusts, the Supreme Court's decision in the Knight case increases the taxes on trusts that use professional investment managers. This article by Richard LeVine of Withers Bergman examines the ruling and notes the need for innovative relationships between trusts and assets managers to ...

Wealth management firms and banks must transform their client reporting systems to satisfy investment and web-savvy clients. That's according to a report on next-generation wealth management from Actuate Corp. and IBM Corp. The report examines the growth of the market and outlines some of the challenges confronting wealth managers.

With short-term interest rates currently near zero, this may be a good time to consider using intra-family loans, grantor retained annuity trusts and sales to intentionally defective grantor trusts.

Competitive state premium taxes and modern domestic trust laws, as well as improved domestic regulatory costs and state consumer laws for insurance policies have resulted in much larger life insurance contracts being issued onshore versus the traditional route of offshore. Consequently, types of trusts, states, insurance companies and policies all ...

Low interest rates are certainly disheartening for investors looking for income, but they also drive down key rates used in estate planning – a great benefit to those looking for low or no tax techniques for transferring wealth to family members. It is unlikely, however, that these rates will remain as low as they currently are.

The charitable lead trust can be used effectively for the ultra-wealthy to pass property, at death or during life, to charity and family members. The trust is particularly effective for individuals who want to address their charitable interests and also set aside money for future generations' medical, educational or other needs.

An excellent trust beneficiary addresses the fact of his trust's existence and its implications for his life at increasing levels of understanding, moving from assimilating fundamental information to successfully managing relationships to seeking personal well-being and fulfillment. Instead of being the focal point of the beneficiary's life, the tr...

Designed to exist perpetually, promote family values and provide a substantial legacy, a dynasty trust takes the greatest possible advantage of a donor's gift tax and generation-skipping transfer tax exemptions. The trust property and the appreciation on that property remain in trust out of the family's successive estates. However, the flexibility ...

These harsh economic times should induce beneficiaries, fiduciaries and their advisors to review trust distributions and portfolio viability. Whether investment and inflation conditions get worse or improve, if everyone takes a long hard look at the economic reality and works together, they can devise a deliberate and practical trust plan that will...

Savvy investors have always known that an economic downturn presents opportunities for anyone willing to bet on a recovery. Similarly with estate planning, there are distinct advantages in taking action while market values and interest rates are low. By transferring property now, individuals can reduce the size of their taxable estates while giving...

This is the first in a series of three articles based on the notion that wealth planners have a unique opportunity to help client families succeed over multiple generations. In this installment, the author looks at the differences in thought and outcome between a transfer plan and a transition plan.

Following the sale of the family business, family members face the decision of whether to pool the sale proceeds and thereby continue as a family investment enterprise. There are many important and very complex tax, legal, financial, operational and accounting issues to consider, but successful implementation of such an enterprise can help family m...

One key to helping develop greatness in the next generation is to encourage entrepreneurship. The formula for encouraging entrepreneurship will differ among families and may need to be adjusted to fit the needs of individual family members. It is important for families to recognize some of the unique issues they face and to think in advance of the...

Even for families with generations of addiction, it is possible to achieve sustained recovery and secure the family's finances. Finding the right help for those of wealth and prominence requires persistence, knowledge and professional cooperation with proven, reliable treatment programs.

Preserving family stories is as valuable a legacy as passing on material possessions. This white paper discusses the various media that families can use to preserve precious memories and other elements of their histories. In addition, the paper offers professional guidance for undertaking such a project.