With more advisors chasing high-net-worth clients, family offices have officially entered buyer's market territory, which is bad news for those who dislike tending to the nonfinancial demands of ultrawealthy clients. One of the earmarks of a...
Even with the reduction in capital gains taxes and the possibility of a permanent repeal of the estate tax, wealthy individuals are showing increased interest in charitable giving. This new wave of donors typically wants to retain some say-so over...
This column lives up to its tag only insofar as it addresses a frequent shortcoming in advisors of my age group. I'm talking about putting the Web to good use in a financial advisory practice. For all the search engine technology out there, the...
What remedies are available when an unexpected death short-circuits an estate plan, leaving heirs to pay more taxes than they would have had their benefactor lived a little longer? In wrongful death cases, one state may now permit estate-tax...
Defined-benefit plans are making a comeback but with a twist. The employer-managed retirement vehicles were a staple benefit at large companies until the mid-1990s, when many fell victim to aggressive cost-cutting. Now, capitalizing on rules set...
As anyone who rides public transportation or watches late-night TV can attest, our society is a litigious one. We've all seen the ads: Have you or someone you love been injured? Call 800 SUE-THEM. As amusing as they might be on the surface, the...
Barry Bonds, the San Francisco Giants slugger, has never liked losing. When he married his Swedish wife, Sun, he had her sign away all claims to his earnings and assets. The prenuptial contract was in English, a language she didn't understand well...
The investment industry demands, by regulation, that an advisor a client before making any recommendations. But most firms make satisfying that requirement too easy. All a client need do is fill out an account-opening form and, maybe, answer a...
There are many reasons why husbands and wives might want to create trusts that allow their spouses to withdraw income or principal. The most obvious is that allowing access to a trust confers extra financial security on the spouse. But there's...
Consider this scenario: A client, decides to change his will by adding a new beneficiary; he asks his lawyer to draft a new document. The lawyer promises to do so, but delays. Then, before the lawyer draws up new papers, Robert dies. For the...
