1. Why is it important to have a discussion about buy-sell agreements in the context of estate planning?
The ownership interest in a closely held business represents a substantial portion of an individual’s wealth. Determining how much his or her
Personal Wealth Law News
Personal Wealth Law News, published by Saul Ewing Arnstein & Lehr, focuses on legal issues related to personal financial planning and wealth management. The blog covers topics such as retirement planning and legislative changes affecting retirement accounts, strategies for preparing financially for retirement, protections against financial scams targeting seniors, estate planning tools like spendthrift trusts, and practical advice for managing household financial responsibilities. It addresses concerns relevant to individuals and families seeking to secure and manage their wealth effectively, including tax implications, asset protection, and navigating government benefits like Social Security and Medicare.
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A Safe Withdrawal Rate in Retirement
By rlouis
A recent program presented by the Probate and Trust Law Section of the Philadelphia Bar Association offered suggestions on a safe withdrawal rate from accumulated assets during retirement. After much analysis, the author concluded that 4% was probably a safe…
Financial Exploitation of Elders is a National Crisis
By rlouis
Many publications report on the prevalence of elder financial abuse in our society. It can arise from misuse of powers of attorney, guardianships, and estate and trust administrations, as well as out and out scams. Many institutions are working on this…
Does Your Spouse Know?
By rlouis
A number of years ago, I spoke at a seminar organized by some clients, called “Sign here, my dear”. The point of the seminar was that spouses, in most case wives, know very little about family finances and are often…
More Dispatches From the Retirement Front
By ssteinig
The more articles and blogs I write about planning for retirement, the more advice I get from people who have retired or are in the planning stages. Since the concept of retirement is still a mystery for many, I thought…
Changes in Planning for Closely Held Businesses Under the New Tax Law
By mmacdonald
New FINRA Rules to Combat Financial Exploitation of Seniors
By mmacdonald
The Financial Industry Regulatory Authority, universally known as FINRA, is a not for profit organization (not a government agency) that regulates member brokerage firms and the brokers that deal with the public. All securities firms that are not regulated by…
The Best Advice on the New Tax Law Comes From Duke Ellington
By rlouis
Many years ago, Duke Ellington wrote the music to “Do Nothing ‘Til You Hear From Me”, and this remains good advice when deciding what to do about the new tax law. There are many changes in tax provisions that will…
The Early Baby Boomers- Their Long Final Act Begins
By rlouis
The baby boom generation (born from 1946 to 1964) is now entering retirement years, and the earliest members of this group are well into retirement, continuation of their careers in different ways, or encore careers. When this group was born,…
Why Estate Planning Is Still, And More Important Under New Tax Law
By rlouis
After much wrangling and dealmaking, both houses of Congress have passed bills making substantial changes to federal tax law. Although it’s not entirely certain, it seems likely that there will shortly be agreement on a tax bill to become law…