The Romney Trust: A Masterpiece

The Romney Trust: A Masterpiece April 2, 2012

As a financial adviser, I look at a well-executed financial plan in the way an art lover looks at a painting. Mitt and Ann Romney’s 1995 Family Trust, with its reported $100 million, is my financial planning Mona Lisa.

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Estate Planning In An Uncertain Environment

April 2, 2012

A few years ago, I was working with a client, a retired executive, to update his estate plan. Like most retirees, he enjoyed playing golf and spending time with family and friends much more than working through his estate plan. His aversion was magnified because he just wasn’t comfortable with the important decisions that had to be made. We’d talk on the phone about the next steps; he’d meet with …

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Tax Changes In 2012

Tax Changes In 2012 April 2, 2012

As you complete your 2011 tax return checklist, you may not have considered the last step: thinking about your 2012 taxes. Avoid the temptation to ignore taxes until this time next year. The good news is that most taxpayers will be affected only by a few small changes for 2012. However, many tax provisions are set to expire at the end of the year, which makes it an important one …

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Duly Noted

April 2, 2012

Attorney’s failure does not excuse estate’s penalty. News flash: Trusting your lawyer’s soothing words can cost a lot of money. A federal judge in Pennsylvania drove home that lesson once again by refusing to disturb penalties that the Internal Revenue Service imposed on an estate whose executor was reassured when the attorney said everything was under control. Unknown to the executor, Thomas Freeman, attorney Dennis Byrne suffered from “a litany …

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Memo To The FTC: No Harm, No Foul

April 2, 2012

Advertising is not inherently evil, so why are regulators intent on protecting shoppers from messages they might want to get?

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