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In light of recent and widely reported art market litigation, many collectors, advisors, dealers, and galleries are more cautious and confused than ever about how to go about buying and selling art and collectibles without losses or lingering liabilities. In this article, Judith L. Pearson of ARIS Title Insurance Corporation discusses the rise...

As tax rates on the wealthy have begun to go up again, taxpayers have begun to take a second look at the few legitimate tax shelters still available, and this has renewed interest in investing through insurance dedicated funds (IDFs).This paper discusses two types of IDFs, Private Placement Variable Annuities (PPVA) and Private Placement Life Insur...

This paper is a technical summary of some of the challenges facing the U.S. nonprofit museum community in regard to risk management of art ownership. It includes a summary of key events that has shaped the art market over the last 50 years as well as consideration of the effects of Sarbanes-Oxley and issues surrounding D&O insurance, where muse...

Wealthy individuals need to play an active role in their wealth management, asking advisors the right questions and reviewing their answers regularly. This requires a solid understanding of wealth management principles and how to apply them in a variety of areas, ranging from personal tax planning to the transfer of a business.

Part of the Grow Your Business (GYB) series from PriceWaterhouseCoopers, this edition covers what private companies are doing to rethink their approach to risk against a backdrop of globalization, economic realignment, and rapid technological change.

Many wealthy families envision keeping a shared property in the family as a means of building family unity, harmony and legacy. A number of notable families have been successful at this, but many others find the reality creates the opposite of their intention.

The decision to immigrate to the United States for a wealthy individual or family has serious income and wealth transfer tax considerations. Arranging one’s personal, financial and business affairs prior to moving to the United States through proper pre-residency tax and estate planning is essential in order to avoid a myriad of unwelcomed is...

This article addresses some of the most important legal and tax issues the real property professional needs to know when representing foreign investors in the United States, as every aspect of involvement is different from those of a domestic purchaser.

This paper examines the advantages and disadvantages of four compliance options available to U.S. taxpayers who have not reported all of their non-U.S. income or who have not complied with all of the various reporting requirements applicable to non-U.S. income and assets.

Wealth planning for same-sex married couples presents a host of challenges, and the landscape is fluid. Congress passed the Defense of Marriage Act (DOMA) in 1996, and President Bill Clinton signed the act into law the same year. The bill had two main functions. First, DOMA prevented the federal government from recognizing same-sex marriages for th...

On June 26, 2013, the Supreme Court of the United States issued two groundbreaking opinions regarding same-sex marriage. The rulings will substantially impact financial and estate planning for same-sex couples living in jurisdictions that recognize same-sex marriage. Now is a critical time for same-sex couples, regardless of their legal status, to ...

The current interest rate environment has created an unusual opportunity to maximize life insurance cash values. Determining the value of this option requires evaluating two current life insurance illustrations of the same policy. The ability to access cash surrender value through a non-taxable policy loan is a valuable feature of li...

The framework uses multiple dimensions of risk and return trade-offs to consider when building portfolios and evaluates the consequences of risk allocation decisions during normal and stressed markets. The authors explain this process goes further than traditional role-in-portfolio exposure techniques by considering not on...

If the big picture includes ensuring a retirement income stream and passing assets to loved ones, it’s crucial to understand the effects of income and estate tax laws. Integrated, long-term planning is important and should be done well in advance.

Though the IRS issued the final regulations for section 67 in May 2014 to require the unbundling of a fiduciary's integrated fee, corporate fiduciaries and tax planners continue to struggle with designing and implementing procedures to ensure that the directive is properly accounted for on returns during the upcoming tax filing season.While mos...