If I had to name one difference between private foundations (PFs) in the 20th and 21st centuries, I would use one word: In both centuries, plenty of PFs have made grants to operating public charities, without expecting anything in return other...
Taxes are a contentious political issue. Elections for positions from county supervisor to the United States president have been won or lost on promises about and voting records on taxes. Now, with the passage of the Tax Relief, Unemployment and...
Much of the wealth being transferred in the United States today is in the form of highly appreciated illiquid assets: family businesses, closely held stock, real estate and interests in limited liability companies (LLCs) and limited partnerships ...
The average financial advisor is in his 50s and mulling retirement. The total number of advisors in the industry has been flat for years and is expected to decline in coming years. These facts are constantly trotted out as proof that a talent...
Since 2006, taxpayers have won three significant victories related to valuation clauses. Numerous articles have been written on McCord,1 Christiansen2 and Petter,3 explaining both the legal underpinnings of those decisions and touting the...
You may have clients who are plaintiffs in a wrongful death or survival lawsuit (based on another's death) or in a lawsuit stemming from their own personal injuries. Those clients, and their personal injury attorneys, often don't realize the...
Family businesses are different from other businesses. Besides unique estate tax, succession and governance issues, family businesses must also deal effectively with past, present and future family members, family values and the inevitable family...
Securities America is just the latest broker/dealer to face financial distress. With so many firms falling into financial or legal hot water lately, financial advisors need to be prepared for the worst. Here's a checklist for your Plan B.
