Many wealthy clients and owners of closely held businesses need to acquire a substantial amount of life insurance to provide liquidity to pay for their estate taxes. Life insurance provides substantial cash shortly after death, which is needed to...
Many of our clients who bought cash value life insurance policies are taking a hard look at their policies in light of changed circumstances or a changed planning environment. Whether it's because of personal cash flow issues, reassessment of the...
Gideon Rothschild, partner in the New York-based Moses & Singer LLP and specialist in asset protection, reports: If a wealthy client could possibly go bankrupt in the next 10 years, now is the time for him to move his assets into an offshore trust...
In December 2003, the Internal Revenue Service issued new regulations governing the definition of trust income for federal tax purposes. These regulations create significant planning opportunities as well as some potential pitfalls. There are...
Smart business owners plan for the orderly disposition and transfer of their interests in their companies in the event of their death, disability or retirement. Whether the business is a corporation, partnership or a limited liability company (LLC...
Joel Marks is in a race to get big before he gets crushed. Marks, vice chairman and COO of independent broker/dealer Advanced Equities in Atlanta, more than tripled the size of his independent advisor force with two acquisitions in the past year...
About a year-and-a-half ago, John Marshall surveyed his client roster and decided it was time to go after the really big bucks. The likeliest avenue, he figured, was gathering prospects through referrals from existing accounts. Marshall, an...
In the wake of the Terry Schiavo case and the death of Pope John Paul II many clients are focusing on end-of-life issues, particularly those surrounding life support and the final wishes of an incapacitated patient. Financial concerns, of course...
Say you meet up with a married couple in their mid 60s with three adult children and a net worth of $3 million $1.5 million in his IRA, $500,000 in their home and $1 million in nonretirement mutual funds. Since the husband is likely to die first...
