Most memorably known as mob boss Tony Soprano on the HBO series The Sopranos, actor James Gandolfini died in June at age 51. He left behind an estate worth an estimated $70 million. But to many advisors, the way he divided his estate would have gotten the fictional wise guy knocked off for not shielding… Read More »
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Don’t Bet the House on Tax Reform
If you or your clients are waiting for meaningful tax reform measures to be signed into law this year, don’t hold your breath. The prospects are, in a word, dim. This isn’t 1986, when President Reagan and House Speaker Tip O’Neill got together to overhaul the tax system. The chasm that divides the political sides… Read More »
Three Ways the DOMA Ruling Can Affect Financial Planning for Clients
The June 26 Supreme Court ruling that struck down the 1996 Defense of Marriage Act by a 5-4 vote not only gave same-sex couples legal recognition at the federal level, it leveled the playing field financially, too. With this decision, married gay couples living in states that recognize same-sex marriage are eligible for over 1,000… Read More »
The Recession, Financially Troubled Beneficiaries and Your Client’s IRAs
As our struggling economy tries to sputter back to life, we still see its impact on our clients’ families. The stress of the real estate market crash and the wreckage of the lingering recession has left deep financial scars. There is still a desire by better off (note, not well off) grandparents and parents to… Read More »
Should Granddad Still Keep His Guns?
Convincing a client’s elderly parent or grandparent with eyesight problems that it’s time to turn over the car keys can lead to family squabbles. The elder, who has driven for decades, can resent the loss of independence that giving up the keys represents. Now try to take away his guns — and any fight over… Read More »
Boomers Look to Retirement Coaches
From hippies to corporate titans, the Baby Boomers took America by storm, the size of their numbers and the force of their convictions shaping our nation in ways small and large. But now the first wave is at retirement age, and for the first time in their lives they are adrift, unsure of themselves when… Read More »
Gambling Addiction Hits Seniors Hard
For seniors, financial pitfalls come in many forms: Ponzi schemes, Internet scams, a relative who takes advantage of them. But many also see their life savings slip away— and into casino coffers — because of their own actions. The AARP cites studies that estimate Americans lost $100 billion gambling in 2008 alone and that 4… Read More »
Bond Market Worries Strategists
Bond. James Bond. If your clients had invested in the latest installment of the James Bond series, the $1 billion-plus grossing “Skyfall,” they would have a much better return on their investment than what they’ll get in the U.S. bond market this year. That’s the word from investment analysts (without the James Bond reference), so… Read More »
New Tax Laws Explained
When Congress passed and President Barack Obama signed into law the American Taxpayer Relief Act in the first week of January — averting the so-called fiscal cliff — it made permanent the previous two years’ exclusions on estate and gift taxes. And those exclusions have been adjusted for inflation. As reported by Bloomberg, this means… Read More »
Help Protect Your Senior Clients from Being Targeted by Scam Artists
The numbers are staggering. A recent survey by the Investor Protection Trust finds that one out of every five Americans 65 years old or older — or more than 7 million people — have been the victim of a financial scam. The Washington Post recently told the story of one of those victims, 73-year-old retired… Read More »