This quarterly newsletter features the articles, "Estate Planning Key to Succession Planning," Exploring the Ins and Outs of Net Operating Losses," and "Tax Tips."
This Educational Insights discusses the unique estate tax and insurance implications of owning real estate in multiple jurisdictions.
This Educational Insights defines the most common types of trusts used in asset management and estate planning, and highlights their key features.
Americans are likely to see tax simplification and a more efficient process in 2013. Under tax simplification, there will likely be fewer deductions, but tax rates will be lower. However, the actual outcome of various tax initiatives will be very unpredictable regardless of what the candidates say during the campaign.
This brief client alert highlights provisions of key 2012 estate, gift, and generation skipping transfer tax provisions and strategies for wealthy individuals to consider in their estate planning.
Investors are well advised to take into account the interest rate environment when considering wealth transfer options. Interest rates are important when establishing trusts, reviewing existing estate plans, and lending money to family members. The current rates used to value wealth transfers are near historic lows.
The opportunity for families to transfer a significant amount of wealth from now through the end of 2012 is unprecedented. Certainly there are many technical or quantitative issues to consider, but don’t forget to focus on the more qualitative issues, especially in preparing your family for the receipt of the assets.
For the couple planning marriage, the focus is often on the union itself and not the meshing of financial assets, rights, and obligations. In a time when many couples are marrying later in life, have children and other financial responsibilities from a previous marriage, or have considerable assets that they want to safeguard, a prenuptial agreemen...
A properly structured, funded, and invested dynasty trust can be a powerful tool in achieving significant tax savings on the transfer of wealth across generations. This paper discusses the tax benefits of dynasty trusts under Delaware law as well as funding and investment management strategies to consider.
The IRS has begun checking real estate transfer records in at least 15 states. So far, the new initiative has netted more than 500 cases for audit, and there will likely be many more depending on the results of the taxes collected from this initial effort. Similar initiatives are likely, as the IRS is budgeted to receive additional funds to seek ou...
New cost basis reporting rules for securities sales allow the IRS to better track an investor’s capital gains and, as a result, help the agency collect all the money it can. For investors, getting the correct cost basis recorded now is important because it will set the bar for how much they pay on future gains.
Reporting requirements for capital asset sales have changed, and the IRS is now in a better position to verify and track your activity. This article explains the IRS’ equation: verify + track + match data + audit = increased tax collection.
How far can artificial intelligence (AI) go in the financial reporting ecosystem? Is the vision of an interconnected ecosystem, with value-added and predictive insights, a near reality or still a far-off aspiration? The research conducted among 1800 financial reporting executives across major economies around the world shines a new light on those q...
Many affluent families assume their financial affairs and financial reporting are straightforward, yet they often involve complexities like multiple trusts and private equity investments. This can lead to frustration over the lack of comprehensive financial insights. While bookkeeping tracks financial inputs, it doesn’t provide strategic insights t...
The family enterprise provides a strategic framework for families to stay together and accomplish the shared goals of growing wealth and managing risks through the generations. Within the enterprise, the Private Trust Company (the PTC) provides a beneficial mechanism to support the enterprise and the family’s growth and development. In addition to ...