Between The Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) and a handful of private letter rulings, 2003 wasn't nearly as good for retirement benefits estate planning as sunny 2002. Many trusts created before 2003 now must be...
These are the kind of earth-rattling headlines we read last year: IRS Reaches Agreement with Visa and MasterCard on Information Disclosure; Future of EU Savings Directive in Doubt; Developing Countries Seek to Stem Erosion of Tax Base; U.S. Enacts...
Understanding the trust laws of different jurisdictions can give counsel a critical advantage in litigation. Case in point: Securities and Exchange Commission v. Franco,1 in which none of the parties seem to have understood an important aspect of...
One thing 2003 made clear: high-net-worth clients need thorough wealth managers now more than ever. Domestic and world events, federal legislation and shifting personal values have significantly altered the landscape for these individuals. To help...
Recent scandals call into question the integrity of the securities and mutual fund markets: cooked corporate books, misconduct by investment banking firms and brokerage houses in touting securities, claims of after-hours trading in mutual funds...
In 2003, the equity markets finally broke a three-year losing streak and the corporate bond market continued a strong rally that began in late 2002. Many pundits argued that the stock market recovery heralded a new bull market; others pointed out...
Scottish castles built in the 17th century had few windows. The reason was not defense, but taxes. A luxury tax of the day was measured by the size of the windows in a taxpayer's home. A windowless castle represented good tax planning but brought...
The repeal of the estate tax in 2010, with the concomitant phase-out over the intervening years, poses a paradox for planners:1 The tax will strike unevenly depending upon the year of death. A person dying in 2004 will have a significantly larger...
What's the purpose of an estate tax? Is it a budget booster or social engineering mechanism? Why, in recent times, has the debate over the size or existence of this levy become more intense? President George W. Bush and the Republican leadership...
Assuming the top job at Edward Jones is a bit like playing left field for the Boston Red Sox for the first time: Nothing an executive has done before quite prepares him for the particulars of the new position. When Douglas Hill inherits the...
