The NASD has fined Securities America $2.5 million for failing to supervise an advisor who allegedly lured clients into early retirement with exaggerated promises of high returns...
UBS is doing all it can to hold onto as many of the advisors at newly acquired Cleveland-based McDonald Investments as possible—beginning with a retention package that will be hard to refuse.
What do you do if faced with a decedent's individual retirement account (IRA) beneficiary designation that names a trust with multiple beneficiaries, three of whom are charities? What do you do if the personal representative of a deceased primary...
Who should consider life settlement as one alternative to managing life insurance capital? When is a settlement a wise decision? What factors should be considered before selling a life insurance policy? Who will benefit from a settlement? Have...
Bruce D. Steiner, attorney, Kleinberg, Kaplan, Wolff & Cohen, P.C , New York, has this overview of the recently adopted Pension Protection Act of 2006 (PPA): There are three key provisions of the PPA that are particularly relevant to wealth...
Inheritors of individual retirement accounts (IRAs) who don't enjoy the tax-favored status of a surviving spouse can face steep income and estate tax bills. Many estate planners are aware of the tax raid that can fell large IRAs. It has become a...
If you are thinking about naming a trust with a charitable beneficiary as the recipient of some of your retirement assets, here is a word of advice: Don't! With the important exception of a charitable remainder trust (CRT), such a trust can pose...
David T. Leibell and Daniel L. Daniels of Cummings & Lockwood in Stamford, Conn., take a closer look at the Pension Protection Act's provisions on charitable giving and warn that the PPA signed into law by President Bush on Aug. 18, includes...
The Organisation for Economic Co-operation and Development (OECD) has released a seminal report on tax information collection and exchange practices in 82 countries. The principal achievement of this long-awaited report, Tax-Cooperation Towards a...
Imagine the American Cancer Society having tobacco company stock in its portfolio. Or picture the Alcoholics Anonymous portfolio owning a brewery. Though these examples are fictitious, these kinds of things happen: An investor's advisor, intent on...
