IRS issues new proposed regulations regarding alternate valuation date The Internal Revenue Service has published new proposed Treasury regulations under Internal Revenue Code Section 2032 (REG-112196-07, 76 Fed. Reg. 71491 (Nov. 18, 2011)). Under...
Appeals court reverses $5 million surcharge against trustee of revocable trust A settlor established a revocable trust with his son as trustee, along with a pour-over will. Thereafter, the settlor invested $4 million in his son's company in...
When attorneys draft trust documents, it's important to include maximum flexibility mechanisms to better respond to future tax, societal and beneficiary changes. Despite our clients' and our belief in crystal ball prognosis, these situations...
When establishing a new private foundation, one of the toughest questions the founders should answer is, Who will run the foundation after we're gone? Perhaps because it's a difficult question, some founders decide to defer the answer sometimes...
Ultra high-net-worth entertainers, film and television personalities and professional athletes (celebrities) require specialized estate and asset protection planning. In the past year, the media has been inundated with stories about the commercial...
Much has been written about modern multi-participant trust governance structures (sometimes called open-architecture trust designs) and evolving principles of state trust law related to directed trusts.1 The directed trust model threatens to...
Women control an increasingly large portion of private wealth. That’s good news for advisors who understand the subtle differences in how men and women communicate.
Wealth management firms are alarmingly weak on data security. Ironically, it is human vigilance that often keeps the digital crooks at bay.
Why do people hire financial advisers? The answer might surprise you. Sometimes they are merely looking for someone to pull the trigger for them when they’re too shell-shocked to invest for themselves. Other times it’s a scapegoat thing - when...