Results for "estate planning"

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Jeffrey Epstein transferred $578 million to trust days before suicide

August 20, 2019

Jeffrey Epstein wrote a will two days before his suicide that said he had $578 million in assets but placed them in a trust, out of public view. [More: Labor Secretary Alexander Acosta resigns after furor over Jeffrey Epstein sex charges] Mr....

Investing tips from the wealthiest family on earth

August 16, 2019

Sam Walton would probably be bewildered by the businesses his grandchildren have chosen to pursue, but the late founder of the world's largest family fortune would likely have applauded their initiative. [More: Estate tax pretty much 'optional,'...

Longevity planning will be a central mission for advisers of the future

July 22, 2019

As people live longer, healthier lives, they will need more help managing their money through retirements — which likely will last longer, too. At a recent roundtable discussion hosted by InvestmentNews on the Future of Financial Advice, many...

3 things to consider when advising blended families

June 26, 2019

One of the most difficult tasks for many newlywed couples is marrying their finances. Blending families rather than individuals is trickier but it can be done if there is open communication with clear and full disclosure of both families' finances....

Financial planning for same-sex couples has changed immensely since 2015 Supreme Court marriage ruling

June 21, 2019

Financial planning for same-sex couples has undergone a vast transformation in the four years since the Supreme Court made same-sex marriage a right nationwide, according to advisers who work with LGBTQ clients. "It's changed in a lot of ways,"...

The biggest threat to wealthy families may be internal

June 10, 2019

From geopolitical uncertainty to real estate bubbles, the world is full of risks to investment portfolios. Yet the biggest threat to a family losing its wealth over generations may be internal. Fights over succession planning or individual investment...

As U.S. billionaires live longer, more wealth managers roll out estate and succession planning

May 3, 2019

When Tom Benson died last year at the age of 90, he left behind a sprawling empire that included two professional New Orleans sports teams and a group of car dealerships. Unfortunately for him, he spent some of the last years of his life squabbling...

There are big benefits to investing in family-controlled businesses

April 12, 2019

Investing in family-controlled businesses requires a good amount of patience and a measure of faith, but the benefits are hard to ignore. Exactly what constitutes a family-controlled business varies, but a general definition is one in which...

100% required minimum distributions

March 6, 2019

Can it ever be the case that an individual retirement account's required minimum distribution, or RMD, for a year equals the entire IRA balance? Yes, but that only happens if there is no designated beneficiary. A designated beneficiary means...

Should you name a trust as an IRA beneficiary?

February 22, 2019

Financial advisers may be wondering how to best bequeath clients' individual retirement account assets to heirs in the event of their death. The question becomes, should they name a trust rather than an individual as a beneficiary of the IRA?...

Sanders proposes estate tax of up to 77% on billionaires

January 31, 2019

Independent Sen. Bernie Sanders is proposing to expand the estate tax on wealthy Americans, including a rate of up to 77% on the value of estates above $1 billion. The Vermont senator, who is considering a second run for president, said in a...

Estate tax pretty much 'optional,' but GOP still trying to kill it

January 29, 2019

The estate tax isn't relevant to the vast majority of advisers, their clients or America at large. And estate planners say the tax is largely optional for the wealthy, since there are plenty of ways to dilute it greatly or avoid it outright....

Top 3 planning moves for advisers under new tax law

December 13, 2018

The 2017 tax overhaul has led financial advisers and other tax advisers to substantially restructure clients' financial plans, primarily in three areas: charitable giving, business structure and estate plans, according to a new survey. A poll...

For some women, widowhood produces a windfall — and plenty of headaches

November 17, 2018

Because of women's longer average lifespans and likelihood of widowhood, most discussions about women's retirement planning tend to focus on the financial risks of aging alone and the fact that single women over the age of 65 are more likely...

Understanding the Nuances of Irrevocable Trusts

November 1, 2018

A successful estate plan involves minimizing taxes while transferring wealth to the next generation in an efficient manner. To achieve this goal, many turn to the irrevocable trust. As you may know, property transferred to an irrevocable trust...

Paul Allen's $26 billion estate could take years to unravel

October 18, 2018

Paul Allen's family office will live long and prosper. The billionaire's vast holdings at Vulcan Inc. -- with real estate, art, sports teams and venture capital stakes -- would take years to unravel, if that's even what he wanted. Mr. Allen,...

Estate and tax experts weigh in on Trump report

October 3, 2018

It's not every day an estate and tax planning story makes the front cover of a national newspaper, but many financial services professionals spent the last 24 hours reading through a lengthy report from The New York Times on strategies that...

The Trump family used this strategy to save on taxes

October 3, 2018

President Donald J. Trump and his family supposedly saved on taxes by using a particular kind of trust — a grantor-retained annuity trust, or GRAT. Just what is a GRAT and why is it used? At a high level, GRATs are complex vehicles used to...

Deceased rapper Mac Miller was 26 and had a will — similar to that of Michael Jackson

September 21, 2018

Mac Miller, a 26-year-old American rapper and music producer who died Sept. 7 in California, had a will, and its contents are similar to those of musical phenom Michael Jackson. The fact that Mr. Miller even had a will may surprise some financial...

Aretha Franklin estate echoes planning problems of Prince

August 22, 2018

Aretha Franklin's death is going to cause some headaches for her heirs. The legendary Queen of Soul didn't have a will or trust at the time of her death from pancreatic cancer last Thursday, according to news reports. That's especially surprising,...

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