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During a recent radio address, President Bush said he supported the Retirement Security Advice Act, H.R. 2269, which recently passed the House. The act would allow financial institutions to provide personalized investment advice to plan...
Every broker has heard a story like this one. Recently, Tom Mingone, a financial planner in New City, N.Y., got a call from a new prospect. The man, a successful entrepreneur in his late 40s, had sold his sanitation business for $1 million and...
You know him: The Trust-Fund Brat the party-hearty, layabout rich kid who never made a dime in his life and scoffs at the word The type of guy that might be inclined to ditch his dorm room and blow the endowment on Porsche, Prada and Paris. The...
When a spouse dies, the law is completely clear. In the U.S., even without a will, the widow or widower automatically gets the assets. Being married is like taking the car pool lane, says Frederick Hertz, an attorney in Oakland, Calif., and author...
Last month we discussed the benefits of limited partnerships and limited liability companies as estate planning tools. This month we will look at the recent Hackl case, which struck terror in the hearts of estate planning professionals and their...
When meeting with current or prospective clients who have young children, you can, by asking one simple question and two follow-ups, gain their trust, get them to disclose their entire financial picture and ingratiate yourself with a great source...
If you are serving high-net-worth clients or hope to do so you should be familiar with family limited partnerships, or their kissing cousins, limited liability companies. These are estate planning and asset management tools that wealthy families...