Most teenagers have heard that investing early in life is a way to build wealth over time. They've most likely heard that buying stocks is a common way to invest. In this video, they learn what stocks are and how they are sold and purchased. They will also discover the benefits that stocks offer to investors.
Society is facing an unprecedented time of anxiety, and more now than ever, families of wealth are concerned about both their financial and personal well-being. A panel of experts share their insights on how advisors can help their family clients find balance during unbalanced times and establish calm—from updating the estate plan to easing t...
By drastically increasing the federal estate and gift tax exemption, the 2017 Tax Cuts and Jobs Act created a significant estate tax mitigation opportunity for high-net-worth individuals and families. National Director of Wealth Strategies Blair Talty discusses how these strategies have indeed been strengthened during COVID-19.
The basic foundation for every core legacy plan starts with five documents: a will, an irrevocable or living trust, a durable power of attorney for financial management, an advanced medical directive, and a HIPAA release. John Forster, a partner with the law firm of Baker Hostetler, who has interviewed some of the most successful families in the U....
Despite the challenging environment of COVID-19 and social unrest, having a sound framework can empower you to make wise financial wealth decisions. Good financial health does not keep markets from going down or being volatile, but it does allow portfolios to weather those storms without suffering lasting harm. The key is maintaining proper perspec...
Even when there is a financial gift to sufficiently endow an art collection today, there is no certainty that the endowment will be able to fund the charity indefinitely into the future. When there is no charity willing to preserve the collection, the artist or collector should consider using a private foundation. Especially now as the future of mu...
The economy is still aimlessly lurching from the impacts of the COVID-19 pandemic, and those fits may spill over into tax-filing season. It’s likely that a disproportionate number of filers will have some income and capital gains they weren’t expecting as the result of mutual fund distributions last year. Through an effective tax-manage...
While April may be the official month of financial literacy, investors should commit to staying informed all year round. Whether dealing with terms like meme stocks (stocks that typically trade on hype instead of fundamentals) or older ones like tracking error, there can be plenty of confusion around the language of investing. For both new and expe...
A solid governance structure is critical to any private trust company’s long-term success. Through a thoughtful review that includes useful diagrams and outlines, learn the common elements of the PTC structure; the Board role and responsibilities; the Board attributes, composition, selection process, and succession planning; and addi...
The possibility of dramatic tax changes on lifetime gifts and after an individual’s death has increased with introduction of the For the 99.5 Percent Act and the Sensible Taxation and Equity Promotion Act in the U.S. While it remains early in the legislative process, the chances of significant changes are growing and the window for action is ...
Once the private trust company’s (PTC) governance structure is designed, the foundational operations and administration elements will be central to bringing the PTC to life. Three key elements toward that end include reducing PTC complexity through documentation and recordkeeping; maintaining the PTC through communications and compliance;...
With the IRS increasing their funding and enforcement, upper income taxpayers should expect the IRS audit coverage to increase dramatically on them. It’s important to prepare for the tax changes that are coming—and coming quickly. Along with having a team of professionals on your side, there are steps you can take to protect yourself. N...
The deep knowledge and bone-deep pride of business ownership that keep a successful business thriving do not automatically trickle down to later generations. An investment in education is often required. Knowing the story of the family enterprise is one tool for helping younger family members learn from the past, engage the present, and make their ...
Investors occasionally look to their municipal bond portfolio for loss-harvesting opportunities that reduce the impact of capital gains taxes on portfolio returns. Learn how an active tax-loss management strategy ensures year-round performance, maximizes tax alpha, and minimizes costs.
While no tax legislation has been drafted under the Biden administration, one thing we know for sure is that taxes will go up. Being aware of the proposals being discussed can help you prepare for what comes next, including what you should be considering for both income tax and estate tax planning this year.