Featured Articles

Does Using Trust Distributions Encourage Behavior?

How do you get your kids to do what you want? Any parent will tell you that it’s hard enough when children are small and only gets tougher as they grow up. Nevertheless, many people try to use the purse-strings to control their kids.

National Civil War Museum parking lot deal funneled $3 million to Reed’s special projects fund

PennLive has linked documents from the museum’s parking lot to payments noted in a recent grand jury indictment against former Harrisburg Mayor Stephen Reed. The parking lot bond deal generated at least $4 million of Harrisburg’s debt. Proceeds from the tax exempt bonds ended up being used for artifacts, according to a review of a special projects fund controlled by Reed.

Beware Of These New Estate Planning Scams

Bad advice. High fees. Trust mills. There’s a lot to watch out for when you’re planning for the future, including several new estate planning scams. “Death brings out the worst in people,” says Francine Kent, an estate appraiser from Sarasota, Fla.

Estate Planning Issues Caused by Diminished Capacity

The law assumes that adult individuals have mental capacity, that is, they are capable of making rational decisions on their own behalf. Note we say they are “capable” of making rational decisions. The law doesn’t expect or require that they actually make rational decisions.

How the 3.8 Percent Medicare Surtax Can Bite Your Clients

An important service that advisors can offer this year is helping clients understand the Affordable Care Act’s unearned income Medicare contribution, a 3.8 percent surtax that became effective Jan. 1 on investment income for individuals, trusts and estates. It is referred to as the “3.8 percent surtax,” the “3.8 percent investment tax” and the “3.8 percent Medicare tax.”

Who must send 1099s and who should get them

If you are in business, whether self-employed or running a company, you must send a 1099 form (with copies to the IRS) to anyone that you pay money to, unless the payments meet one or more of the following exceptions: n The recipient is a corporation.