Women control about $14 trillion in assets in the U.S., which is comparable to the gross domestic products of China and India combined—and they are under-served by financial advisors. The industry needs to hone its services to reflect the growing power of female clients. To read the full article in Financial Planning, click: Rich Women Increasingly Call the Shots, Wealth Management Execs Say. ...

Tracking IRA basis is critical for avoiding double taxation of assets, but this can be especially difficult for those who inherit retirement accounts. Reviewing the decedent's Form 8606 is an important first step, and other tax forms can also provide valuable information if this form cannot be found. To read the full article in Kiplinger, click: How Beneficiaries Can Determine IRA Basis. ...

After the death of a spouse, a client has several options for handling the retirement accounts that belonged to the deceased. Here is a brief overview of the financial implications of different strategies for managing IRAs and Roth IRAs. This helpful chart shows the rules and requirements related to distributions for clients who inherit a Roth IRA. To read the full article in MarketWatch, click: Tips for Ma ...

Advisers have a few options for protecting elderly clients from people who may try to exploit them, such as abusive family members or caregivers. Here is a look at three scenarios in which clients may be victimized and advice for dealing with each one. To read the full article in Financial Advisor, click: What Advisors Can Do About Inheritance Exploitation. ...

One of my favorite mantras for support advisors is this, “Details are your responsibility.” In the financial planning field, great plans live and die in the finer points. But, most practices just don't have the time and resources to check complex calculations. That’s where you come in. To read the full article in FinancialPlanning, click: New to Planning? How to Add Value at Your Firm. ...

The new tax law could affect existing estate plans, so now is a good time to review documents with clients.  Clients may need guidance in five areas, including the impact of the law on state-level estate taxes. To read the full article in Next Avenue, click: Five Questions to Ask Your Estate Planner After the New Tax Law. ...

Affluent Americans aren't Getting Inheritance Help, Survey Finds Even the richest Americans aren't getting professional help and creating plans to pass wealth on to the next generation, according to a survey by RBC Wealth Management.  Less than a third have a comprehensive plan, the survey found. To read the full article in InvestmentNews, click: Many Wealthy Americans haven’t Planned for the Transfer of th ...

Don't Lose This Important Group of Clients The majority of children who inherit money don't retain their parents' advisers.  Joe Sicchitano, from SunTrust Bank, discusses how advisers and clients can take several steps to avoid this outcome, such as proactively communicating and working early to establish a relationship. To read the full article in FinancialPlanning, click: Advisers to Clients: Don’t Hide t ...

Recent Cases Consider: Fair Market Value in Arkansas, Equalization Payments and Healthcare Credits in Iowa, and Valuations Based on Future Cash Flow in Louisiana Judge Wiggins in Iowa rules In re Marriage of McDermott on equalization payments and tax credits for health insurance payments.  In Louisiana, Judge Williams finds a valuation in Fancher v. Prudhomme invalid since it was based on assumed cash flow— ...