Advisors need to spend more time helping clients plan for long-term care and inheritance allocations before problems arise, says one advisor and author.
Many considered Dec. 31, 2013, the final date for year-end tax planning, but there are numerous planning actions that you can take in 2014 retroactive to 2013. Here's a quick and easy guide to help with planning.
Congress dangled an incentive for high-income Americans to convert their tax-deferred individual retirement accounts into post-tax plans. Their response was overwhelming.
The IRS has released the final regulations for the 0.9% Additional Medicare Tax that was imposed as part of the Affordable Care Act.
In the wake of this summer's Supreme Court ruling on the Defense of Marriage Act and Prop 8 -- as well as ensuing federal clarifications related to tax rules, employee spousal benefits and more -- same-sex couples now say they need help with financial planning.
The toughest conversations that advisors need to have with their clients have nothing to do with investment strategies.
The changes to the Home Equity Conversion Mortgage program introduce credit underwriting criteria to the product for the first time, which until now only had been using actuarial standards in the decision making process, a reverse mortgage specialist said.
IRS private letter ruling gives heirs choices about annuities.
Married gay couples living in all U.S. states can file joint federal tax returns, even if local authorities dont recognize their marriages, the Obama administration said today.
The estate is arguing that a tax bill calculated by the IRS overvalued assets including real estate, a Bentley automobile and the late singers image and likeness.
The IRS is going after the estate of Bill Davidson, former owner of the Detroit Pistons and auto industry supplier Guardian Industries, to the tune of more than $2 billion.
Proceed with care. Thats what bankers, accountants and wealth managers are telling same-sex couples considering financial changes because of the Supreme Courts rejection of a federal law denying them benefits.
For any number of reasons, clients sometimes want to prevent their inheritors from draining their IRA accounts right after they die. LPL Financial is joining a handful of other firms in offering a turnkey product -- a so-called inherited trusteed IRA -- for advisors to use in these situations.
The Supreme Courts landmark decision last month striking down the Defense of Marriage Act may have solved the estate tax problems of the lead plaintiff, Edith Windsor, but it still is leaving a lot of uncertainty among same-sex couples, particularly those in states that do not recognize same-sex marriage.
An aging population has forged new partnerships between wealth advisors and health care planners.
In the wake of this week's landmark gay rights decision from the Supreme Court, financial advisors have as many questions as answers for their same-sex clients about how the ruling with impact their wealth management, tax and estate planning.
The U.S. Supreme Courts decision to overturn the core of the Defense of Marriage Act will narrow the financial gap between gay and straight couples.
The National Advisors Trust of South Dakota will give National Advisors-affiliated RIAs and their clients access to some of the most flexible trust and tax statutes in the nation.
Age Wave President and CEO Ken Dychtwald discusses what that new retirement reality may look like.
Barack and Michelle Obama need a better financial strategy. Financial Planning has several suggestions.
Several estate planning products were built to address concerns about paying federal estate tax. However, the tax law passed earlier this year may have made these products moot. Advisors need to react before angry clients start calling.
President Obama wants to prevent people from accumulating too much money in their tax- advantaged retirement accounts or trusts for heirs, adding to pressure on the wealthy after raising tax rates in January.
Several provisions affecting advisors contained in President Obamas budget blueprint drew sharp reactions from many corners of the industry, with groups variously praising measures to increase funding for securities regulators and blasting provisions concerning taxes and retirement planning.
New legislation means big changes for estate planning. Here's what you need to consider.
In the world of trust and estate administration, where tax planning typically involves special attention to federal tax law compliance, its easy to lose focus on state income taxation issues. And while some states do not tax income related to trusts, states that do tax trust income have a variety of rules and criteria for which trusts are subject to tax.
As the April 15 tax filing date draws closer, millions of taxpayers still find themselves somewhere between putting the final touches on their tax return and just starting the process.