Financial Advisors may discuss charitable giving with clients for the same reason that most people choose to give in the first place: It's the right thing to do. But you can use that discussion to clean up your client's portfolio and simplify your...
Some advisors say they feel unprepared and uncomfortable talking about charitable giving with clients. But those with experience say it’s both easy and rewarding.
Many users of the popular tenant-in-common (TIC) investment vehicle in commercial real estate are hoping they have the stamina to withstand a double blow
A partial interest in property left by a decedent to a surviving spouse, such as an income interest, can lead to a credit for tax on prior transfer (CTPT) in the estate of the surviving spouse. Understanding the role that partial interests play in...
During Leona Helmsley's lifetime, the real estate mogul and hotel magnate was reviled for allegedly saying only the little people pay taxes, then going to jail for failing to do so, much to the glee of the New York tabloids. After Leona's death...
Consider a not uncommon scenario. The date is Jan. 1, 2008. Bob Savvy is the sole shareholder of Family Fortune, Inc., an S corporation. Family Fortune was recently appraised at $10 million, but the investment bankers Bob has spoken to believe...
Just as things seemed to be quieting down)after the Pension Protection Act of 2006, Jalong came the latest challenge to the peace of the estate-planning world: tax patents. In early 2006, an infringement suit was filed over the first business...
On June 25, 2007, the Supreme Court agreed to hear Knight v. Commissioner1 to decide whether trusts and estates can fully deduct the fees they pay for the investment management and advisory services they receive.2 For the last 10 years, a debate...
In 1976, Congress enacted Section 6166 of the Internal Revenue Code so that, when a business owner died, his closely held business wouldn't have to be sold just to pay the federal estate taxes owed on his estate. Before this law, a taxable estate...
Pre-mortem probate surely that's an oxymoron? A will becomes effective only upon the death of its maker. To probate a person's last will and testament, meaning to prove the will's validity, months or even years before the person dies seems...
