The New York Attorney General’s Office announced today that it is suing UBS Financial Services for allegedly defrauding thousands of customers through its InsightOne fee-based brokerage program.
Whatever happens to the value of real estate in coming years, one thing is certain: It has become and will remain a large, important part of wealthy clients' portfolios. Even in bad times, real estate has the potential for growth and income...
Google Estate of Lillie Rosen and you'll get about 20,200 results. The number and breadth of websites devoted to Lillie Rosen and her family limited partnership (FLP) shows the buzz this case generated in the estate-planning community this year...
A new study on high-net-worth philanthropy shows that the rich are different. David T. Leibell and Daniel L. Daniels, partners of Cummings & Lockwood, LLC in Stamford, Conn., report: According to a study released Oct. 26 the Bank of America Study...
Advisors promote trusts as an indispensable component of the estate plan. We tout the importance of trusts for credit shelter and generation-skipping transfer (GST) tax planning. We proclaim that trusts protect assets from creditors, including...
From the grandfather clock that stood sentinel in the front hall of the family home to the worn-out tennis racquet Dad always used when letting his kids win a match, many estates include objects that have little or no financial value but are...
Nonprofits, especially those operating or fundraising in multiple states, are under a great deal of pressure these days to maintain compliance with both federal and state regulations. Much of that pressure is fallout from the Sarbanes-Oxley Act of...
An individual relative or friend might be more appropriate to serve as a trustee than a professional. In praising corporate trustees, commentators have identified three areas in which they can excel: cost, competency and conflicts between...
Andrew M. Katzenstein, a partner in the Los Angeles office of Katten Muchin Rosenman LLP, reports: Changes proposed to regulations (Treasury Regulations Sections 1.72 and 1.1001-1(j)) governing the income taxation of private annuity sales...
More and more reps are becoming certified financial planners (CFPs). Trouble is that many wirehouse brokers with CFPs don't actually act as fiduciaries, as the designation currently requires. Should a wirehouse CFP be able to use the prestigious...
