SECURE Act Commentary [Updated 2020.01.09]

The following list will be updated periodically as new reports are located. Therefore, please check back periodically. Marketwatch (Dec. 30, 2019): Secure Act includes one critical tax change ‘that will send estate planners reeling’Marketwatch (Dec. 28, 2019): Inheriting a parent’s IRA or 401(k)? Here’s how the Secure Act could create a disaster.Kiplinger (Dec. 30, 2019): … Continue reading SECURE Act Commentary [Updated 2020.01.09]

SECURE Act Attached to Year End Spending Bill

The SECURE Act has been attached to the Year End Spending Bill and looks to be enacted. See the following for more information: Text of legislation.Forbes: Congress Set To Pass SECURE Act At Last Minute, Impacting ...Financial Advisor Magazine: Congress On Track To Move Forward With Major Retirement ...401kspecialistmag: Congress Adds Secure Act to Year-End … Continue reading SECURE Act Attached to Year End Spending Bill

What Do You Mean I Cannot Take that Money? Duties, Responsibilities, and Ethics for Fiduciaries and the Attorneys Who Advise Them

By Lisa C. Henry & Francis J. Rondoni Chestnut Cambronne PA Minneapolis, Minnesota1 2 With the recent trend to sue anyone and everyone, practitioners should be aware of potential liability for their client’s acts.  Along with claims for malpractice, courts are coming around to considering a legal practitioner being liable for his or her role in … Continue reading What Do You Mean I Cannot Take that Money? Duties, Responsibilities, and Ethics for Fiduciaries and the Attorneys Who Advise Them

Why Can’t My Brother-In-Law Bob Be the Executor of My Estate?

CONSIDERATIONS INVOLVING FIDUCIARY SELECTION By Stuart C. Bear Chestnut Cambronne Minneapolis, Minnesota 1 2 Fiduciary selection is crucial to the success of an estate and disability plan.  Even a great plan can go awry if a fiduciary fails to uphold his or her fiduciary duties or fails to follow the terms of the Will or Trust.  Add family … Continue reading Why Can’t My Brother-In-Law Bob Be the Executor of My Estate?

Art Crimes and Misdemeanors: Managing Risk in Estate Administration and in Appraisals of Stigmatized Art

By Sarah Moore Johnson, Esq. & Cindy Charleston-Rosenberg, ISA CAPP Misattributed and other forms of stigmatized artwork lurking in important estate collections is far more pervasive than generally appreciated by fiduciaries. If overlooked during the appraisal process, misattributed and unattributed works may result in significant wealth loss through overpayment of tax liability or depressed sale … Continue reading Art Crimes and Misdemeanors: Managing Risk in Estate Administration and in Appraisals of Stigmatized Art

Emerging Issues for the Family Office

From taxation complexity to cyberthreats, what are today’s top concerns? By Randy Abeles, Tax Partner, RSM US LLP Family offices come in all shapes and sizes and the differences from one to another can be vast. And, yet family offices have common challenges—and opportunities—especially in today’s dynamic business environment. From addressing the complexities of taxation … Continue reading Emerging Issues for the Family Office

Rosenberg + Walker: 3 signs your client’s investments aren’t tax friendly – AICPA Insights (Aug. 30, 2019)

Matt Rosenberg and April Walker have published their article, 3 signs your client’s investments aren’t tax friendly the AICPA Insights (Aug. 30, 2019). Their article begins as follows: You know a lot about your tax clients — their jobs, their kids’ names, what kind of cars they drive — and you know even more about their finances. Most of the time, your clients are happy to share their complete financial lives with you. … Continue reading Rosenberg + Walker: 3 signs your client’s investments aren’t tax friendly – AICPA Insights (Aug. 30, 2019)