Category Archives: Estate Tax

Helping High Net Worth Clients to Act Before Possible Cut in Tax Exemptions

For high-net-worth clients, there are less than four months left to avoid the effects of potentially severe tax changes. Many advisors have undoubtedly been beseeching wealthy clients to take advantage of existing gift, estate and generation-skipping tax exemptions of $5.12 million and other wealth-transfer planning opportunities while they can. The zero hour is assumed to… Continue Reading

Gift tax exemption may be lower in 2013

This practice update outlines an estate planning strategy that may appeal to wealthy married clients who wish to use the $5 million federal gift tax exemption before it potentially reverts to a much lower level on January 1, 2013. The strategy involves each spouse creating and funding a trust with up to $5 million in… Continue Reading

Americans Lack Understanding, Concern for Disabilities’ Effects

Despite the risks posed by disability in retirement, many Americans don’t understand their chances of becoming disabled, a report released May 8 by the American College found. The vast majority of Americans don’t realize arthritis is the leading cause of disability. Thirty percent believed workplace accidents were the main cause of disabilities. Back and spine… Continue Reading

Disposition of digital assets: reasons for digital estate planning

Death in the digital age is a lot more complicated than it used to be.  Traditionally, fiduciaries and family members start administering an estate by reading the individual’s mail and sorting through records at the person’s home.  However, with online accounts and paperless billing, these traditional approaches may not be available to fiduciaries today.  The… Continue Reading

The Role of the Board in Family Business Succession

A relatively unexplored area of family business research is the role that an active, independent board of directors can play in perpetuating the family business from one generation to the next. A recently published book, Building A Successful Family Business Board, seeks to close that research gap. In fact, according to the book’s authors, an active,… Continue Reading