The American housing market is grappling with escalating interest rates and limited inventory, pricing many Americans out of home ownership. Massachusetts’s senior Senator Elizabeth Warren seeks to address this issue in the “American Housing and Economic Mobility...
August is "National Make-a-Will" Month, the perfect opportunity to seriously consider your estate plan. Many delay this crucial task due to common misconceptions about what an estate involves. Here, we delve deeper into what creating an effective estate plan entails...
Can you believe it? Summer isn't over yet, but it's already time to start thinking about the upcoming school year. For parents of younger children, this means shopping for school supplies and new clothes, reestablishing bedtime routines, and mentally preparing for...
Many wealthy families in the US and worldwide utilize family offices to manage their assets and various other needs. Last year, the number of family offices surpassed 4,500, collectively managing an estimated $6 trillion in assets. North America holds the largest...
Retirement Planning and IRAs Hard-working Americans spend a lifetime trying to obtain financial stability and to then provide a financial legacy for their families. Often, the strategy to achieve such goals involves the funding of individual retirement accounts...
As AI increasingly becomes part of our everyday lives, individuals and families are exploring the use of AI programs to prepare estate plans. The answer to whether AI can be used for this purpose is, of course, yes. AI programs, similar to other online tools and...
In a landmark decision, the U.S. Supreme Court’s decision in Connelly v. United States will require closely-held business owners to reconsider their current buy-sell arrangement in order to avoid additional federal estate tax. Now under the Court’s holding in...
As Trump era estate tax cuts are likely coming to an end in 2025, wealthy business owners are increasingly utilizing Family Limited Partnerships (FLPs) to significantly save the family taxes when they are gone. Understanding Family Limited Partnerships An FLP is a...
As of April 1, 2024, the Federal Deposit Insurance Corporation (FDIC) has implemented significant changes to its insurance coverage limits, particularly affecting trust accounts. These adjustments aim to simplify coverage rules while ensuring depositor protection....
Supreme Court Deliberation on Income Definition In December 2023, the Supreme Court considered the fundamental question: "How is income defined?" Moore v. United States centered on the question of taxation of unrealized income. Unrealized income is defined as a gain...