The primary and most tangible benefit of a 529 plan is the tax-deferred growth of the assets in the plan (growth is tax free to the extent the plan assets are used for tuition.) (See 529 Basics, p. 55.) But this benefit must be weighed against the...
New York's highest court let the decision in Matter of Dumont stand, creating a bit of a mess in New York and adding to the cacophony of recent state court decisions on large stock concentrations. Despite the noise, the decisions are adding up to...
David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., report: IRS issues series of rulings ultimately approving CRT termination in unusual circumstances. Did you ever have to make up your mind? Although...
From G. Warren Whitaker, a partner in the New York office of Day, Berry & Howard LLP, we have this report: The budget proposal submitted in March by the United Kingdom's current Labor government unexpectedly included provisions that would...
Most estate planners are aware that under Internal Revenue Code Section 642(g), estate administration expenses may be taken as estate tax deductions or income tax deductions but not both.1 In most taxable estates, that is to say estates where a...
One of the pillars of modern portfolio theory is the efficient market hypothesis (EMH), a theoretical framework for understanding how securities are valued in the marketplace. According to the EMH, the market is composed of well-informed and...
Can a man savvy enough to have a telephone in his shoe decades before the invention of the cell phone ever be out of touch? Sadly, Don Adams the comedian who brought the goofy but ever-triumphant Maxwell Smart to life in the 1960s TV show Get...
While investing in commodities ranks among the oldest of financial endeavors, commodities today are underrepresented in most trust portfolios because of the widespread perception that they represent a volatile and risky asset class. Also...
Fundraising professionals and financial advisors to nonprofits know the Wealth Transfer as shorthand for estimates by two academics at Boston College's Social Welfare Research Institute, who predicted in an October 1999 report that $41 trillion...
Citigroup agreed in mid-May to pay a record $98 million to past and present advisors to settle their overtime-pay claims. It's the fourth major financial firm to settle a class-action suit regarding overtime pay within the past 10 months
