» estate planning

Even if your state has no estate or inheritance tax, there are other reasons to have a credit shelter trust. Here are a few … Even amongst recent tax law changes, there are certain estate planning tools that are still good ole’ standbys for your… Read More

For many parents, it is easier to talk to their children about sex than money. And there are few touchier subjects for wealthy families than the topic of inheritance. Don’t we all dread certain “talks” we’re supposed to have with our children… Read More

The fact that my life had instantly transitioned into a foreign, new reality was finally processed for me when my dad’s business partner showed me around their recycling business—a venture that I knew absolutely nothing about. Managing your own p… Read More

There are myriad ways to begin the exit process from your business without giving up management control.  [Here] are some ideas to structure for an eventual departure, without having to hand over the keys to the business right now. Business succ… Read More

The proposal is being spun as a way to prevent wealthy private-equity executives from amassing huge IRAs—like Mitt Romney’s, once estimated to be worth as much as $100 million. But it would also curb the savings ability of self-employed professio… Read More

Despite Mr. Simpson’s collection of museum-quality art, some of it housed in the Manhattan gallery he owned, which is now under lock and key, his family said it lacked the money for a burial. A million dollars worth of art is quite a collection!
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The conversation around successions can be [sensitive], because it brings up all the same issues one faces when starting a business — only this time, you’re forced to imagine it without yourself in the picture. When it comes to business, successi… Read More

A POA is a legal document that is based on your state’s law that authorizes someone to act on your behalf. A Power of Attorney (POA) is an essential tool for your estate plans, and a mighty strong one at that. In effect, every adult should have one… Read More