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USRAP Uniform Statutory Rule Against Perpetuities GST generation-skipping transfer POA power of appointment bp bonus points PFTC private family trust company Top jurisdictions are bolded in blue. Florida and Wyoming (honorable mentions) are also...
The interplay among tax laws, investment performance and a beneficiary's wellbeing shapes a fiduciary's responsibilities. When a trustee distributes assets from a trust to meet a beneficiary's needs, the question of how to satisfy that...
Life insurance is a confusing topic in and of itself. Start a conversation about life insurance at your next cocktail party and see what happens. The subject is guaranteed to cause eyes to glaze over, even among many professionals. To rid some of...
Long-term care (LTC) and how we pay for it continue to be major issues for Americans and our federal, state and local governments. Congress attempted to address these issues with the Community Living Assistance Services (CLASS) Act, which...
The economy and the markets were major factors in retirement plans last year. Roth individual retirement account 2010 conversions were recharacterized in the wake of declining account values. And during desperate times, some IRA owners were...
I hesitate to write an article containing hyperbole. Whenever I read something that contains terms such as unheard of, or my immediate, admittedly cynical, reaction is to doubt the assertions and question the author's credibility. That said, I now...
With 2011 come and gone, we look back at the recent developments in the area of asset protection planning. With fewer clients concerned about estate taxes due to the increased exemption, more advisors are addressing asset protection needs of the...
As advisors to wealthy families, we have a responsibility to help clients plan for the future and prepare for unpredictable events. The start of a new year is the perfect time to begin discussing a more intentional planning process that families...
As clients stop accumulating wealth, move into retirement and start withdrawing their assets for income, you'd think this would have a negative impact on their advisors' revenues. But overall, advisors expect a net increase in revenues as clients...
