Trusts

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.

It may seem counterintuitive, but paying appreciably more taxes in 2020 could save families a lot of money down the road.

Depending on the economy and the election, they could be on the chopping block as soon as 2021.

The Internal Revenue Service is giving taxpayers a break if the checks they mailed in to pay their taxes still haven’t been opened up yet and are sitting in the trailers the IRS set up during the pandemic.

Both pieces of legislation have caused sweeping changes to retirement planning and wealth management.

A revocable living trust is one way to reduce their estate taxes, however the law requires clients to sign the document in the presence of the notary.

The Secure Act eliminated a popular retirement planning feature. Here are strategies to help clients mitigate the tax hit.

Convenience accounts, power of attorney, trusts: The benefits and drawbacks are legion. Here's a guide.

Filing at the wrong age and failing to take advantage of programs like spousal and survivor benefits are just a few common mistakes seniors make.