Estate planning

There’s no telling where the vast fortunes hide on tree-softened Phillips Avenue here in Sioux Falls.

The use of a SLAT to eliminate the risk of changes in the estate and gift tax system can help separate legacy assets from lifetime assets.

Joan Crain’s job is to guide the wealthy through complicated financial decisions where mistakes can cost millions of dollars. That task is proving particularly tricky now thanks to Joe Biden’s proposed tax plan and the lack of clarity over what the Democrats will pass.

Eliminating the step-up in basis for calculating taxes may not become law, but it’s worth exploring options with your small enterprise-owner clients, says Sophia Duffy.

Trusts aren’t just for the .01%, as some advisors sell mass affluent and high-net-worth clients on their tax benefits.

(Bloomberg) — An unpleasant surprise for wealthy Americans lurks halfway through a 114-page document released by the U.S. Treasury late last month.

These individuals have unique life experiences that shape who they are and planning for their financial goals requires an understanding of their distinct challenges, writes advisor Harry Gittelson.

DAFs come with a potential upfront tax deduction, allowing newly empowered investors to consolidate their giving flows, writes Tom Brilli.

Even with a 15-year window to pay taxes, a near-doubling of the capital gains rate and the elimination of the step-up in basis loophole will make a sale expensive.

"Many times it’s actually small, systematic behavioral changes in strategies that lead to sustainable, meaningful changes in outcomes," writes Michael Liersch.