How FLPs and LLCs Can Help You Keep Assets and Disinherit the IRS

The Waltons was a long-running TV show in the 1970’s about a close-knit family that weathered tough times during the Great Depression and World War II. Today, people are more familiar with another set of soft-spoken, family-oriented Waltons, namely those who founded Wal-Mart, the world’s largest retailer. In sharp contrast, the modern day Waltons are… Read More »

LLCs

Wise Guy’s Estate Plan Not So Wise

Most memorably known as mob boss Tony Soprano on the HBO series The Sopranos, actor James Gandolfini died in June at age 51. He left behind an estate worth an estimated $70 million. But to many advisors, the way he divided his estate would have gotten the fictional wise guy knocked off for not shielding… Read More »

Don’t Bet the House on Tax Reform

If you or your clients are waiting for meaningful tax reform measures to be signed into law this year, don’t hold your breath. The prospects are, in a word, dim. This isn’t 1986, when President Reagan and House Speaker Tip O’Neill got together to overhaul the tax system. The chasm that divides the political sides… Read More »

Three Ways the DOMA Ruling Can Affect Financial Planning for Clients

The June 26 Supreme Court ruling that struck down the 1996 Defense of Marriage Act by a 5-4 vote not only gave same-sex couples legal recognition at the federal level, it leveled the playing field financially, too. With this decision, married gay couples living in states that recognize same-sex marriage are eligible for over 1,000… Read More »

Should Granddad Still Keep His Guns?

Convincing a client’s elderly parent or grandparent with eyesight problems that it’s time to turn over the car keys can lead to family squabbles. The elder, who has driven for decades, can resent the loss of independence that giving up the keys represents. Now try to take away his guns — and any fight over… Read More »