High Net Worth

High Net Worth

Tax Law Update: February 2020

The past month included important tax law developments that will significantly affect certain individuals. Some of these tax law changes included: dramatic changes to retirement plan payouts, final regulations confirming no estate tax clawback, and a ruling confirming trustee’s severance and spouse’s disclaimer of interest in marital trust.  Final regulations confirm no estate tax clawback—Treasury …

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Estate Planning New Year’s Resolutions: Resolve To Plan Better

The New Year, 2020, has approached us and we have all undoubtedly made resolutions. Whether its leading a healthier lifestyle, traveling more, or spending more time with loved ones, reviewing your estate plan should be at the top of your list. While there is uncertainty as to what the 2020 election may bring, it does …

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Multigenerational Wealth Preservation: What You Need To Know

Preserving wealth can become increasingly difficult as it shifts through generations. In order to protect the legacy that you have worked so hard for, it is important to understand the challenges that you may face, and how you can overcome them. In 2019 the tax code provides that every penny in excess of $11.4 million …

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Millennials To Become The Richest Generation in American History

Millennials will become the richest generation in American history as baby boomers transfer over their wealth. A study shoes that millennials will hold five times as much wealth as they have today and the group is anticipated to inherit over $68 trillion from their baby boomer parents by the year 2030, and this will represent …

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New York vs. Florida : Tax Differences Between The Two States

The  sunshine and palm trees are not the only reasons that individuals are leaving their home states of New York, New Jersey and Connecticut. The unyielding lower taxes are drawing more and more people to migrate South…for good. Florida received more movers than any other state last year, at 566,476 people, according to data from …

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Estate Planning is Vital for High-Net-Worth Clients

There are distinct advantages in planning over a longer period of time. So planning now, in 2019, may not only increase the likelihood of the planning working, it will also make the planning less risky and more secure. But, due to today’s political climate, timing is key. Protecting assets for tomorrow means making intelligent financial …

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