Selling a family business is typically complicated and fraught with emotional issues for the owner. The owner is selling his means of livelihood, and more the composition of his net worth, which will migrate from business earnings to a portfolio...
Health, Education, Maintenance and Support: the four chosen words that make up the ascertainable standard. Sometimes abbreviated as HEMS, the ascertainable standard is undeniably a creature of tax law,1 though it must also operate in the realm of...
On Dec. 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the Act). The Act significantly impacts the estate planning that advisors will recommend to their clients, as...
For those of us in the business of providing client services, success is heavily dependent on our ability to offer the most comprehensive, cutting-edge information available. No matter how good we may be individually, we can always be better by...
One of the most challenging conversations for a financial advisor to have is getting a married couple to agree on a financial plan. Husband and wife may have very different views on risk, as well as spending and saving priorities.
On Dec. 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the Act). Among other things, the Act makes changes in the tax law for calendar years 2011 and 2012 that: (1)...
The bypass trust, also known as the credit shelter trust, the family trust and the trust, has been the foundation of estate planning for married couples since before I started practicing law. Prior to 2011, such a trust was necessary to ensure...
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010,1 among other things, ended the nail-biting uncertainty about the estate tax thresholds for 2011. (For more information, see New Rates, New Exemptions, New...
PricewaterhouseCoopers LLP (PWC) has released its second global family business survey in November 2010, Kin in the Game, available online at www.pwc.com. In 2007, when PWC completed its first survey, there were few signs of the financial crisis...
