Download Printable Article By Mark Dreschler, President & CEO at Premier Trust and Deborah Erdmann, QKA, CISP, Vice President & Trust Officer at Premier Trust Attracting and retaining the Generation X & Y children of your current clients is an important strategy for a financial advisor to retain assets. According to the Investment Management Consultants Association, only 2% of children keep inheritances with their parent’s financial advisor. As your core baby boomer client base continues to age and draw down assets, you’re probably already thinking of ways to generate new revenue. In this article we will discuss how to grow…
SPECIAL ANNOUNCEMENT: WealthCounsel 2015 Symposium Attendees
If You’re Attending the 2015 WealthCounsel National Conference… 5 Key Reasons You Need to Stop By BOOTH #4! FREE PRODUCT—All attendees will receive a complimentary product valued up to $199! CLIENT MAINTENANCE PLANS vs. FREE SERVICE PACKAGE—Find out about our upcoming 2-part program to address one of the hottest debates in developing a successful estate planning practice! PRACTICE-BUILDING & MARKETING PACKAGES—Tested and proven tools to help your practice in today’s highly competitive estate planning market. Plus, find out about our new Starter Kits and Bundle Packages! FREE CONSULTATION—Fellow WealthCounsel member, Phil Kavesh, will be offering limited one-on-one consultations during…
Robert Keebler’s Portability After the Final Regulations Briefing
On June 16, 2015, the IRS released the final regulations pertaining the Portability. The most important issue is confirmation that late corrective elections are available for gross estates under the basic exclusion amount and not available for gross estates exceeding the exclusion. If you have clients (or prospective clients) with sizable income from interest, dividends, rents, capital gains or royalties, you can become a “hero” and their most talked-about advisor. The IRS has now issued its Final Regulations, effective June 12, 2015, and it appears that this new tax is far more complex than originally thought. To help you navigate…
5 Things Every Estate Planning Attorney Needs to Know About Using an Asset Protection Single Member LLC
By Mason D. Salisbury, J.D. Single Member Limited Liability Companies (or “SMLLCs”) are the basic building blocks of asset protection entities. For many clients, SMLLCs may be the only asset protection entity they need. However, not all SMLLCs are created equal as asset protectors and some (too many) are hardly worth the paper they are filed on. An asset protection SMLLC is specifically organized at every point to fight and win against creditor attorneys, that is, to actually provide asset protection if challenged. Below are five things every estate planning attorney should know about using SMLLCs to protect client’s assets….
If You’re Doing Seminars (or Are Thinking About Doing Them) Your Staff Better Know About and Be Handling These Important Details!
Download Printable Article By Kristina Schneider, Executive Assistant The common saying “The devil is in the details” is probably never more true than when it comes to seminar marketing. Whenever I’m discussing seminar marketing with attorneys, it becomes pretty clear to me that a lot of estate planning attorneys are overlooking a number of key details that should be completed. Successful seminar marketing is the result that comes from the compound effect of a lot of steps to be handled during the planning process, just before the seminar, during the seminar, and right after. Even missing one or two of…
Cloud Still Hangs Over Validity of Nevada’s Perpetuities Law
Download Printable Article By Matthew D. Blattmachr, Trust Officer Despite the contention by some that the recent decision of the Nevada Supreme Court in Bullion Monarch Mining, Inc. v. Barrick Goldstrike Mines, Inc., 131 Nev. Advance Opinion 13 (Bullion) eliminates any question concerning the invalidity of the Nevada statute permitting trusts to last for 365 years, a careful review of this well written decision does not, in fact, seem to do so. In fact, the decision does not even appear related to trusts. The court frames the question it was asked to answer as “whether Nevada’s “Rule Against Perpetuities appl[ies]…
The Two-Year Installment Sale
Download Printable Article By Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA From 2003 to 2012, the long-term capital gains rate was 5% for taxpayers in the two lowest ordinary income tax brackets and 15% for all other taxpayers. The American Taxpayer Relief Act of 2012 (ATRA) added new progressivity to the tax rates, setting the long-term capital gains rate at 0% for the 10% and 15% ordinary income tax brackets, 15% for the 25% and 35% ordinary income brackets and 20% for the 39.6% ordinary income tax bracket. This progressivity greatly increases the importance of spreading out large long-term…
Nevada Supreme Court Approves 365-Year Dynasty Trusts and Sends a Message
Download Printable Article By Steven J. Oshins Esq., AEP (Distinguished) In a unanimous opinion issued on March 26, 2015, the Supreme Court of the State of Nevada made a bold statement by ratifying the Nevada 365-year rule against perpetuities in the case of Bullion Monarch Mining, Inc. v. Barrick Goldstrike Mines, Inc., 131 Nev. Advance Opinion 13 (2015). Although the 365-year perpetuities law was already firmly engraved in the Nevada statutes and therefore this court case should have gone largely unnoticed, it was the message sent by the Nevada Supreme Court Justices to a small group of anti-Nevada promoters that…
PBS Special: Caring For Mom & Dad
We recently received this e-mail from our esteemed colleague, Joan Medeiros, who brought to our attention a PBS Special on the challenges that caregivers of the elderly face: “I am frequently asked by clients about how to care for their elderly family members. I know from personal experience how difficult, emotional, and complicated caring for an elderly parent can be. PBS aired a very good special regarding this issue last Thursday night, but it also available for viewing via their website, which I have listed below. I thought you might have some interest in watching it; please feel free to…
Helpful Computer Programs for Organization and Efficiency
Download Printable Article By Megan DeLaGarza, Executive Assistant Staying organized and on top of a busy workload and boss can be time-consuming and overwhelming. Even if you have a plan of attack, it’s not always easy to find where exactly to start or the best way to implement new ideas. Below are a few resources that might prove helpful not only for you, but perhaps for your entire firm, to execute efficient and effective daily work. Text Expander. Save time and effort with TextExpander to avoid typing the same thing over and over, whether it’s a simple email signature or…