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Next year, no matter how preoccupied the federal government is and no matter who is president, a new federal estate tax law is quite likely to be adopted. If it isn't, on Jan. 1, 2010, the U.S. federal estate tax will disappear at least for...
Many clients think the foreign trust tax and reporting rules can be circumvented by using non-U.S. persons as nominees. But the United States has rules to prevent potential abuse of tax law by U.S. persons who receive indirect transfers from...
Choosing a trustee is one of the most important decisions that clients make for their estate plans. Some trust powers may be critical for tax planning but giving those powers to the wrong person as trustee can actually undermine tax goals. powers...
The events on Wall Street over the past six months, coupled with the toll they have taken on many advisors, have caused me to revisit the work of William Glasser, M.D. and his thoughts on human behavior. In his book Control Theory (1984, Harper...
Staying on top of new industry rules and regulations is one of the greatest challenges facing registered reps and their supervisors these days. Overnight, long-established practices become violations because of an incomprehensible subparagraph to...
I have a friend, a financial advisor, who keeps what he calls The Yell-At-Tom Index. (His name is Tom.) Interestingly, The Yell-At-Tom Index (TYAT) is low right now, he says. That's right. Despite the utter carnage in the equity markets, the...
In September and October, Houston-based financial advisor Mike Robertson was getting 60 calls a day from panicked clients. On Long Island, New York, about 5 percent of Mark Snyder's clients hit the phones. They're saying, What's happening? says...
Where are we now? Good question. It's a global rout, with worldwide governments pumping $3 trillion of rescue capital into the financial system. Will it work? We wanted to quantify the situation with a view to divining how much remaining exposure...