Wealth Planning

Bill and Melinda Gates do it. Bill Clinton does it. Bono does it. And thanks to the Internet, the Average Joe can do it. What is it, you ask? It's the new rage in philanthropy. And although it's called by many names including engaged philanthropy...

Recent world events have brought new attention to the need for effective cross-border philanthropy. Whether concerned with immediate response to disasters or long-term development needs, U.S.-based donors are moved to help. Their advisors are...

PLR prevents post-mortem reformations of trusts as designated beneficiaries of IRAs

In business transactions, each party generally seeks to maximize his advantage. But for charitable gifts, typically the donor and the charity have the same goal to best further the charity's mission. Nevertheless, donors want their directions for...

Investors' IRA accounts may not be in as bad shape as some had predicted.

In the case of Holman v. Commissioner,1 the U.S. Court of Appeals for the Eighth Circuit upheld a Tax Court decision2 that a discount for lack of marketability (DLOM) of 12.5 percent was appropriate for a private investment company holding only...

The subject of tiered discounts is a controversial one. Taxpayers may view the application of a tiered discount as a means to achieve a better tax result. Those who are already critical of valuation discounts see the additional layer of discounts...

Since the enactment of Internal Revenue Code Section 2703, the U.S. court system and the business valuation community have debated the meaning of that section and how it applies to estate and gift tax valuations. Increasingly, the government is...