In recent years, as the economy has faltered and banks have failed, merged and re-emerged, the fiduciary business with its annuity revenue stream seems more attractive than ever. But is it, really? The fact is that the fiduciary business can be a...
A graying widower hires you to reduce his looming estate tax burden and to shelter the wealth he passes on against potential creditors of his descendants. He has three children and seven grandchildren keeping him happy and busy, and he wants to...
Investing for retirement can be problematic for professionals in partnerships or other types of closely held firms. Yes, that includes lawyers in law firms. These individuals tend to spend their early careers focused on building their business. By...
Milwaukee pitcher Scott Schoeneweis is trying to keep prying eyes out of records detailing his dead wife’s demise. Problem is, he’s asking the Arizona courts to seal otherwise public records. The unlikely moral of this story, so far...
Even the Internal Revenue Service has now informally agreed: death does not trigger gain.
An installment sale to an irrevocable grantor trust is a popular estate-planning tool that allows the grantor to freeze the growth of an appreciating asset by selling it to a grantor trust in return for a promissory note. The sale is ignored for...