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This paper offers a practical look at how an individual or family might plot a successful road map that aligns and grows with their unique abilities, needs, and personality. The authors detail the steps in a philanthropic asset allocation process involving fact-finding, planning, and continuing assessment as seen through the eyes of three hypotheti...

The authors summarize the history of the IRS' voluntary disclosure programs to date and conclude that, indeed, it is still possible for a U.S. person to become U.S. tax compliant and avoid criminal prosecution by making a voluntary disclosure.

This guide covers wealth management and tax planning strategies to consider before year-end and into 2012. Topics include tax management, wealth transfer planning, education funding, philanthropy, retirement, liabilities management, insurance, business owner issues, tax implications of health care reform, and building a strategic plan.

Investors and advisors focused on wealth growth and preservation may see environment, social, and governance/socially responsible investing as taxing a portfolio's performance. This paper offers a framework with associated metrics for assessing ESG/SRI integration into the portfolio with the same rigor and discipline used in all other fiduciary dec...

Newsletter of the Synergos Institute dedicated to disseminating best practices and innovations in philanthropy and social investment around the world.

Nearly all states have “delegated” trust statutes, but only a few states, such as South Dakota, have “directed” trust statutes, which provide families with maximum flexibility and control regarding a trust’s asset allocation, diversification, investment management and distributions.

A Private Family Trust Company (PFTC) is typically a family owned LLC (i.e. pass through entity or corporation), authorized by a state’s Division of Banking to be a PFTC and serve as the trustee for the family’s trusts. This article outlines key considerations in establishing a PFTC and two alternatives: a Directed Trust and a Directed ...

Reporting requirements for capital asset sales have changed, and the IRS is now in a better position to verify and track your activity. This article explains the IRS’ equation: verify + track + match data + audit = increased tax collection.

New cost basis reporting rules for securities sales allow the IRS to better track an investor’s capital gains and, as a result, help the agency collect all the money it can. For investors, getting the correct cost basis recorded now is important because it will set the bar for how much they pay on future gains.

The IRS has begun checking real estate transfer records in at least 15 states. So far, the new initiative has netted more than 500 cases for audit, and there will likely be many more depending on the results of the taxes collected from this initial effort. Similar initiatives are likely, as the IRS is budgeted to receive additional funds to seek ou...

A properly structured, funded, and invested dynasty trust can be a powerful tool in achieving significant tax savings on the transfer of wealth across generations. This paper discusses the tax benefits of dynasty trusts under Delaware law as well as funding and investment management strategies to consider.

For the couple planning marriage, the focus is often on the union itself and not the meshing of financial assets, rights, and obligations. In a time when many couples are marrying later in life, have children and other financial responsibilities from a previous marriage, or have considerable assets that they want to safeguard, a prenuptial agreemen...

The opportunity for families to transfer a significant amount of wealth from now through the end of 2012 is unprecedented. Certainly there are many technical or quantitative issues to consider, but don’t forget to focus on the more qualitative issues, especially in preparing your family for the receipt of the assets.

Investors are well advised to take into account the interest rate environment when considering wealth transfer options. Interest rates are important when establishing trusts, reviewing existing estate plans, and lending money to family members. The current rates used to value wealth transfers are near historic lows.

This brief client alert highlights provisions of key 2012 estate, gift, and generation skipping transfer tax provisions and strategies for wealthy individuals to consider in their estate planning.