Wealth Management Articles

Our team has put together a collection of helpful and informative articles regarding wealth management.

If you're interested in learning more about wealth management, these articles may have just what you're looking for.

Why Your Family May Need a Corporate Fiduciary

The fiduciary standard is the highest standard of care recognized by the law. A salesman is under no obligation to determine that his product is appropriate for a buyer, or that the buyer can afford it, or that the purchase is in the best interests of the buyer. A fiduciary does have those obligations and more.

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Five Traps for Amateur Trustees

An item in Barron’s a few years ago by Lauren Foster demonstrates that being a trustee may be harder than some people expect (“The Five Biggest Ways to Bungle a Trust,” May 21, 2011). Foster’s observations are must reading for anyone who expects to be a trustee, or who has nominated a family member to serve as a fiduciary.

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IRS Announces 2014 Retirement Plan Limits

To make it possible for voluntary retirement savings to keep up with inflation, the various numerical limits embedded within qualified retirement plans are indexed for inflation.

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Chasing Yield

An offer of a 25% return in one year should set off alarm bells for most investors. Offers that downplay the risk of loss should also.

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Financial Management for Single Seniors

Facts of life: Most retirees will be single for some period of time, and most of those singles will be women.

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Certainty

Affluent families everywhere should have heaved a sigh of relief when Congress averted the fiscal cliff as 2013 began. Failure would have meant a return to a $1 million federal estate tax exemption and a 55% tax rate, exposing millions more families to this tax.

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Inherited IRAs

If you are a beneficiary of an estate that includes an IRA, we have two words for you: It’s complicated.

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Super IRAs

Earlier this year, Presidential aspirant Mitt Romney revealed, through financial disclosure documents, that he owns an IRA worth between $20.7 million and $101.6 million (the disclosure forms use ranges, not exact figures). Even using the lower figure, $20 million seems rather extraordinary, given that IRA contributions were long limited to $2,000 and only recently have been boosted
to $5,000 ($6,000 for those over 50). How did he do it?

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How do I Choose the Right Trustee?

Trust-based wealth management plans are growing in popularity. According to one recent survey, more than half of families whose wealth exceeds $5 million already employ a trust for asset
management. More than a third of families whose wealth falls into the $1 million to $5 million range have a trust.

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Trusts for Special Needs

Parents and grandparents of a child with a lifelong disability, such as autism, have a special estate planning challenge. On the one hand, they want to provide the financial support that the child never may be able to provide for himself or herself. On the other hand, they want to protect the child’s eligibility for the full range of government support programs, including health care.

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