Estate Planning for the Middle Class: Overcoming Myths with Reality

By Matthew D. Blattmachr, CFP®, Trust Officer, Alaska Trust Company | Volume 2, Issue 5 (May 2014) Here are a few common misconceptions (or objections) people have about estate planning and trusts – – and how to overcome them. Myth #1: Estate Planning is only important for the very wealthy. Reality: Every client needs some kind of estate plan, because everyone has an estate. The size of your estate does not dictate whether or not you need a plan, but rather what plan you need. If clients don’t create a specific plan, then the state is more than happy to…

Another Private Letter Ruling Approves NING Trust

By William D. Lipkind, J.D., LL.M. (Taxation) & Steven J. Oshins, J.D., AEP (Distinguished) | Volume 2, Issue 5 (May 2014) Taxpayers in high income tax jurisdictions with large unrealized capital gains or a regular stream of ordinary income from an investment portfolio have always wanted to find a way to eliminate or minimize their state income tax exposure without giving up the economic benefit of the underlying assets.  On March 8, 2013, the IRS issued PLRs 20131002 through 20131006 approving such a trust under Nevada law.  These landmark Rulings have opened the doors for many practitioners to take advantage…

The Three “D’s” of Being a Better Assistant (and More Efficient Assistant)

By Kristina Schneider, Executive Assistant | Volume 2, Issue 5 (May 2014) Whether you’re a busy executive or the assistant to a busy executive, you know the feeling of having far too many things to do in a day than hours available, right?  There are a lot of different tips and ways that you can handle such a workload.  One such technique of determining how to handle a heavy workload is something that Phil actually taught to us.  It’s the Three “D’s”: Do It, Delegate It, DeferIt! Start by looking at your To Do List – – which we hope all of you have, because…

Frank Aragona Trust: What Now Constitutes Trustee “Material Participation”?

By Robert S. Keebler, CPA, MST, AEP (Distinguished), CGMA | Volume 2, Issue 5 (May 2014) [1] In Frank Aragona Trust v. Commissioner, the U.S. Tax Court held that a trust can qualify for the IRC Section 469(c)(7) real estate professional exception.[2] Furthermore, the court held that the trust materially participated in real property businesses it owned.  Don’t get excited quite yet, though. Although the holding that a trust can be a real estate professional is very favorable, the case does little to resolve the issue of whose participation can be counted for purposes of determining whether a trust materially participates in an…

Stock Market Forecast

By E. Dryden Pence III, CPM®, AIF®, LPL Registered Principal, CIO Pence Wealth Management Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC. | Volume 2, Issue 5 (May 2014) Editor’s Note: This is one in a series of periodic market watch articles provided by E. Dryden Pence III, whose investment advisory firm Pence Wealth Management has been recognized as one of the top in the United States byBarron’s, Forbes and The London Financial Times. Bottom Line Up Front: We think the US stocks are currently in a secular bull market—meaning it has legs, not in months but years….