The S&P 500 declined by 4.7% in September to finish flat for the 3rd quarter. This was the index’s first sign of weakness since the sharp rally from the bottom in March 2020 as it has returned at least 6%…
On Sunday, Oct 3rd the International Consortium of Investigative Journalists (“ICIJ”) released the “Pandora Papers.” More than 600 journalists from around the world released confidential documents and dealings of political elites, government officials, celebrities, and the wealthy. This group of…
What is a 5 by 5 Power? A 5 by 5 power, or right of withdrawal, is a power provided to a beneficiary to withdraw principal from the trust within a specified period. This power must be specifically referenced in…
At the end of May, the Biden Administration released the government’s budget, along with the Treasury’s Green Book, which is the Administration’s proposed tax strategy to fund the budget. The Green Book is not proposed legislation, so the legislation will…
It has been said that the only things that are certain in this life are death and taxes. While taxes can be viewed as a symbol of an achievement such as earned income or a capital gain, paying taxes can…
So, you want to be a trustee of an irrevocable trust? Or perhaps you want to name an individual trustee for the Family Trust? After all, “it’s cheaper to have a family member be trustee.” After all, “my kids won’t…
Many high-net-worth individuals express concerns about notifying their children of a Trust they are a beneficiary of as their children may be young adults who typically do not have the ability, knowledge, or maturity to handle their family’s wealth appropriately.…
A recent article about wealth inequality in the US and the growing wealth gap highlighted the stark difference between the top 1% and all others. Total wealth (assets minus liabilities) in the US is estimated at over $100 trillion (Brookings…
The IRS views most trusts as a separate and distinct tax entity, and accordingly, the IRS taxes them as such. Trusts will often have a separate Tax Identification Number (TIN) and file their own separate tax return, IRS Form 1041,…
“Alternative Investments” is a category that covers a wide range of different strategies and portfolio construction techniques, many of which make similar claims: they offer returns that are uncorrelated with traditional stock & bond strategies, help reduce portfolio volatility, and…