Wealth Planning

“Are you going to IMPACT this year?” I heard it over and over again from executives, advisors marketers, recruiters, attorneys, compliance experts, technology people and other reporters for weeks leading up to the event. Schwab IMPACT 2009—this...

Thankfully, RIA custodians are turning that hardship into something of a marketing tool.

Limit penalties for undisclosed offshore accounts

It looks like fractional interest gifts of art will be a viable strategy for the wealthy once again. On Aug. 6, 2009, Senator Charles Schumer (D. New York) introduced Senate Bill 1605 to restore many, but not all, of the tax benefits of fractional...

Advisors recommending Roth IRA conversions had better be prepared to answer these questions from clients: For years, you've told me that I should postpone income taxes on my retirement plan as long as possible. Now, you tell me I should do a Roth...

Experienced estate-planning practitioners know that the promise of the stretch IRA to prolong the account's tax-deferred or tax-free status thereby allowing its assets to grow often is thwarted if a trust isn't used to guard against beneficiaries...

In 2009, only individuals with a modified adjusted gross income of $100,000 or less are allowed to convert a traditional IRA to a Roth IRA. But this income restriction is eliminated in 2010. So, the question becomes, Do you want a Roth IRA? To...

The year 2010 marks the first time that wealthy individuals will have easy access to a Roth IRA. Although they still won't be able to make contributions to a Roth IRA if their adjusted gross income (AGI) is too high, there will no longer be an...

Internal Revenue Code Section 408(a) defines an IRA as a trust. . . for the exclusive benefit of an individual or his beneficiaries. But Section 408(h) permits a custodial IRA to be treated as an IRA for purposes of Section 4081 and the Treasury...