Wealth Watch News

Score One for the Foreign Trust  

Jul 30, 2008, By Gideon Rothschild, partner, Moses & Singer LLP, New York

A U.S. District Court has ruled that the settlor of a foreign trust cannot be held in civil contempt for failing to comply with a repatriation order—because she has established to the court’s satisfaction that she is unable to repatriate the funds. ...

Business Owners' Blind Spot 

Jun 27, 2008, By David T. Leibell and Daniel L. Daniels, partners in the Stamford, Conn. office of Wiggin and Dana LLP

It seems that F. Scott Fitzgerald was wrong. According to a new study, “Protecting the Family Fortune,” the very rich are not all that different from the rest of us — at least when it comes to estate planning. They also avoid it, because making or implementing plans means coping with the unpleasantness of death, incapacity and taxes....

New Reality of Transfer Tax Returns  

May 29, 2008, By Roy M. Adams, partner, Constantine | Cannon Roy M. Adams & Associates PLLC, New York

The Internal Revenue Service released Notice 2008-13 on Jan. 2, 2008, to provide interim guidance on the application of tax preparer return penalties put in place by The Small Business and Work Opportunity Act of 2007. ...

Impact Investing 

May 7, 2008, By Anne Field, contributing journalist, Pelham, N.Y.

Expect wealthy clients not only to ask about investing in companies whose processes are green and socially responsible, but also about companies whose very missions provide an environmental or social return in addition to a financial profit...

Score One for Donors 

Mar 27, 2008, By Winton Smith, principal, Law Offices of Winton C. Smith, Jr., Memphis

A court enforces Georgia O'Keeffe's restrictions on the gift she gave to Fisk University...

Do-Good Investing 

Feb 27, 2008, By Anne Field, journalist, Pelham, N.Y.

If a client wants his assets invested in socially and environmentally responsible companies, how do you oblige?...

Sound the Alarm 

Jan 30, 2008, By Paul Knox, head of UK Wealth Advisory, JP Morgan Private Bank, London, and Jay Krause, partner, Withersworldwide, London

The Brits are about to heavily tax Americans living in the United Kingdom...

Only the IRS Knows for Sure! 

Dec 19, 2007, By Natalie B. Choate, of counsel, Bingham McCutchen, LLP, Boston

The Pension Protection Act of 2006, for the first time, permitted non-spouse beneficiaries to have inherited benefits transferred from a qualified retirement plan to an "inherited IRA." ...

Money 'n Sanity 

Nov 21, 2007, By Anne Field, freelance journalist, Pelham, N.Y.

A new TV series shows families learning to break the taboo against talking about money...

Horton Foote's Dividing the Estate 

Oct 31, 2007, By David Adler, freelance journalist, New York

Horton Foote's Dividing the Estate, a play about family interdependence, love, hate and estate planning, had a limited run, Sept. 27 to Oct. 28, to critical acclaim in New York City....

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