Wealth Management industry news covering the financial markets, trends and wealth professionals.
Stay up to date with Wealth Management news and trends through our free Morning Memo e-newsletter. Join today.
Internal Revenue Service extends filing and payment deadlines for estates of decedents dying in 2010 In Notice 2011-76 (Notice), the IRS provided relief for the estates of decedents dying in 2010 (2010 estates). The filing deadline for the Form...
From an international perspective, family businesses in the Gulf region are taking new approaches to succession. In five areas, some leading Gulf families have decided against conventional wisdom and are making new rules that fit their culture and...
Generally, most clients want the same thing: control, use and enjoyment of their assets until death and protection of their assets from potential claimants. They also want these same benefits for their family members after they themselves pass...
Too often, people who live outside the United States and are citizens of other countries discover that they're U.S. citizens as well and, therefore, owe U.S. taxes. Most countries have rules that allow the transmission of citizenship through...
On June 24, 2011, 42 years after the gay rights movement began with the Stonewall Riots in New York City, Governor Andrew M. Cuomo signed the Marriage Equality Act into New York State law. After a long political battle and a narrow 33-to-29 vote...
Trustees sometimes find themselves staring down the barrel of the litigation gun, whether as the target, or, more typically, as a neutral party standing among warring factions fighting over trust assets. Due to the increasingly international...
The Internal Revenue Service and the courts have been very active this year in the charitable arena. There have been informal reports of increased audit activity by the IRS, and the public record shows a sample outcome of those audits. The...
As the world appears to shrink, more people acquire property in multiple jurisdictions or have family members living in different countries. Residents of the United States and other common law jurisdictions have historically used trusts to achieve...
Estate plans originate in a number of ways, but in every one, early on in the process, the client interacts with at least one estate planner who may be an accountant, insurance professional, financial advisor or attorney. Typically, a professional...
The best plans and intentions can be led astray by misconceptions based on erroneous assumptions, especially with philanthropic succession planning. Often, senior or same generation family members don't have a true understanding of one another's...
