For some, the COVID pandemic may seem like a distant memory. However, if there is one lesson we learned from that period it’s that no one is immune from a job loss, a business closing, or a life-threatening illness. When these challenges occur, it is often too late to develop plans that you can put […]
The passage of the One Big, Beautiful Bill Act (OBBBA) on July 4, 2025, provides a reprieve to net-worth families who faced the prospect of losing many taxpayer-friendly provisions of the tax code that were set to expire at the end of this year. However, maximizing the potential benefits of the new law requires strategic […]
It is no secret that the U.S. tax code is complicated. Compliance with U.S. tax laws is particularly onerous for foreign persons, especially when considering that different rules apply for income and estate tax purposes, and neither depends on an individual’s immigration status. For income tax purposes, the U.S. presumes foreign persons to be nonresident […]
Trusts are essential to estate planning, regardless of your financial means. After all, you do not have to be a millionaire to protect your family members and plan for their continual care after you are gone. With a trust, you can help ensure that your wishes are followed, and your assets are transferred to heirs […]
Gone are the days when large, institutional banks and wirehouses were the only ones with pockets deep enough to arm financial advisors with the tools needed to attract and retain wealthy clients. Today, independent brokers/dealers and registered investment advisories associated with independent wealth management firms have access to a wide array of customizable strategies and […]
For too long, women were socialized to believe that they were terrible with money or that financial management was a role better left to their husbands. While women have come a long way, there remains a significant gender gap in financial literacy. Ninety percent of women will need to be self-reliant with financial decisions at […]
The death of a spouse can be one of the most devastating events in an individual’s life. Not only must surviving spouses cope with the emotional, mental and physical turmoil of their crushing grief, but they will also face a tsunami of legal and financial decisions, including the responsibility to pay their bills, keep the […]
Many of the provisions contained in the current tax law are set to expire on Dec. 31, 2025, signaling an immediate need for individuals to assess their existing estate plans to maintain long-term tax efficiency. Whether or not the current administration extends these laws, engaging in planning now can help reduce risks of potentially higher […]
Effective Jan. 1, 2025, the federal estate tax exemption increased to $13.99 million, or $27.98 million for married couples filing joint tax returns. This means that individual taxpayers can transfer up to $13.99 million in assets to their heirs (or up to $27.98 million for married couples filing jointly) during life or at death without […]
In 2019, the IRS reassured ultra-high-net-worth families that any gifts they make between 2018 and 2025 to remove assets from their taxable estates under the generous but temporary provisions of the Tax Cuts and Jobs Act (TCJA) would not lose those tax benefits when the estate-tax lifetime-exclusion reverts to its pre-TCJA level in 2026. The […]