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Category Archives for "Estate Planning"

Should Your iTunes Library Go In a Trust?

Ever wondered who will inherit your digital library? Unless the laws are changed, your MP3s and e-books may go to the grave with you. Today MarketWatch reported on this growing problem and offered a couple of solutions. Many of us will accumulate vast libraries of digital books and music over the course of our lifetimes. […]

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Endless Deficit Spending and Advisor Marketing to Seniors

You might see the near record federal deficits as a good news-bad news story for financial advisors. The good news is might skinny with this story. Maybe it will lead seniors to take a second look at their government pensions. Maybe they’ll choose to save more money for retirement. Perhaps they’ll decide to seek out an advisor with some sound ideas on how to live off their retirement accounts.

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Estate Tax Confusion Keeps Advisors Busy & Wealthy Gifting

Summer approaches and Congress has yet to pass any estate tax legislation. Will they extend 2009 45% tax rate and $3.5 million exemption? Will they try to make it retroactive? Can they pass legislation after the Summer recess when the November election approaches? Or wait for the lame duck Congress to pass something after the election?

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“Legacy for One Billionaire: Death, but No Taxes” Really?

Is the headline of this 6/9/2010 New York Times article misleading? Yes, 2010 is a great year to die, especially if you have lots of money. This Texas Billionaire was ranked 74 on the Forbes 400 with an estimated estate of $9 billion. Yes, that’s a number 9 with 9 zeros after it. So did he really escape paying taxes on his estate?

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White House Sets New Rules on Retirement Accounts

Yesterday, Vice President Biden issued the “Middle Class Task Force Annual Report” which included planned rule changes aimed at ensuring workers receive objective investment advice for their 401(k)s and IRAs. Under these proposed rules, affected financial advisors will either need to use independently certified computer models or no longer suggest funds for which they receive commissions.

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New Federal Estate Tax: Who it hurts and who it helps

Milton Friedman once said “I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it’s possible.” Is this always true? Not when Congress eliminates the federal estate tax while limiting the step up in basis. Some families will be helped and many others will be hurt. Read this Wall Street Journal article and learn who is hurt by this change. It could be some of your best clients.

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Retirement Planning and Price Inflation

In a recent post, I warned advisors to be ready with answers to difficult questions. Here’s another one. “If I follow your investment advice, will my retirement income keep up with inflation?” In the past year, the Federal Reserve Bank has doubled the money supply. Will this cause higher retail prices? Imagine playing a game […]

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