Estate planning

In the wake of the newly-passed American Tax Relief Act of 2012, it’s likely many wealthy clients will continue to make large family gifts. If they are giving away hard-to-value assets, they might consider following a tactic from the Wandry case, decided by the Tax Court in 2012.

The last-minute tax deal cobbled together in Washington contained several key elements for estate planning. Now advisors can break the good news to wealthy clients:

The Internal Revenue Service released new income tax withholding tables for 2013 late Monday to reflect the expiration of the 2001 and 2003 Bush tax cuts and the more recent payroll tax cuts of 2011 and 2012, but noted that the guidance would be modified if Congress acts.

What advisors can still do to protect business owners' assets even though last year is gone.

A portion of the health care law could carry some unpleasant surprises for high-income taxpayers.

With little more than a day remaining to avert tax increases for almost every U.S. worker and to halt federal spending cuts, Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell worked to bridge gaps over income tax rates, the estate tax and other issues.

Small businesses may be facing a variety of regulatory changes after January 1.

Abraham Lincoln is one of the most notable examples of someone dying without a will. This begs the question, what happened to Lincoln’s estate after he died?

Billionaire investors Warren Buffett and George Soros are calling on Congress to increase the estate tax as lawmakers near a decision on tax policies that expire Dec. 31.

Self-settled trusts seem to offer the impossible: They remove assets from an individual's estate while still allowing them to benefit from them.

The annual gift tax exclusion, which has been $13,000 since 2009, will be $14,000 in 2013, the IRS has announced.

It’s no surprise the middle class bore the brunt, but what steps can they take?

One could only imagine what George Jefferson — the wise-cracking character who was “movin’ on up” on the 1970's TV hit, The Jeffersons — would have said about this predicament. The body of actor Sherman Hemsley, who played George Jefferson, has been kept on ice for the last 3 1/2 months.

“The financial advisor is critical, as he or she has the job of opening the estate and trust accounts," Peter Lang wrote in a white paper. "This can only be done once the will has been probated, the executor has been appointed, and a Tax Identification Number has been issued by the IRS.”

The election results, while no surprise, have pretty much left us where we were in terms of tax policy, according to Roger Harris, president of Padgett Business Services.

As America grows older, advisors shift practices from accumulating wealth to generating income.

The president and CEO of Investor Protection Trust discusses issues facing seniors and the special problems for which advisors should watch, including protecting them against fraud.

10 tips to prevent the missteps that cannot always be repaired after the client's death.

As the case against Brooke Astor's son illustrated, even clients with reputable advisors can be vulnerable to predators.

The heirs of the two co-creators of the legendary comic book hero have been battling the powerful media conglomerates, Warner Bros. and DC Comics, for many years in a series of (seemingly) never-ending lawsuits. While most of your clients will never have to worry about something as valuable as Superman copyrights, it is very common for disputes to arise regarding an estate, trust or assets of someone who passed away.