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Many of our clients who bought cash value life insurance policies are taking a hard look at their policies in light of changed circumstances or a changed planning environment. Whether it's because of personal cash flow issues, reassessment of the...
Gideon Rothschild, partner in the New York-based Moses & Singer LLP and specialist in asset protection, reports: If a wealthy client could possibly go bankrupt in the next 10 years, now is the time for him to move his assets into an offshore trust...
In December 2003, the Internal Revenue Service issued new regulations governing the definition of trust income for federal tax purposes. These regulations create significant planning opportunities as well as some potential pitfalls. There are...
Smart business owners plan for the orderly disposition and transfer of their interests in their companies in the event of their death, disability or retirement. Whether the business is a corporation, partnership or a limited liability company (LLC...
In the wake of the Terry Schiavo case and the death of Pope John Paul II many clients are focusing on end-of-life issues, particularly those surrounding life support and the final wishes of an incapacitated patient. Financial concerns, of course...
Say you meet up with a married couple in their mid 60s with three adult children and a net worth of $3 million $1.5 million in his IRA, $500,000 in their home and $1 million in nonretirement mutual funds. Since the husband is likely to die first...
At 6 feet 1 inch, 247 pounds and only 31 years old, Tedy Bruschi doesn't fit most people's profile of a stroke victim. But just two weeks after helping his team win the Super Bowl, the star New England Patriots linebacker was in an ambulance...
Brokers often take a shortsighted view of their careers, and this usually turns an effort to convince them to think about their own retirements into an uphill battle. Indeed, given the average advisor's zeal to earn as much as possible as quickly...
For closely held family business owners who want their businesses to pass to the next generation, there are various estate-planning techniques that should help them avoid significant transfer tax costs. These range from simple gifts of family...
