Wealth Protection

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Biden Inheritance-Tax Plan Poised To Be Scaled Back In Congress

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Democrats want to scale back a Joe Biden plan to limit the step-up in basis on inherited assets.

Taxes On Rich Test Democrats' Unity On Biden Economic Agenda

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Taxes are emerging as a particularly contentious issue as lawmakers keep an eye on next year's midterm elections.

Billionaire Who Relocated NFL's Rams Wants Trial Moved Out Of St. Louis

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The city and other plaintiffs argue that the team's departure robbed them of millions in tax revenue.

U.S. Wealth Gap Rises With Jackson Hole At The Top

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Wyoming's Teton County, home to Jackson Hole, has the nation's highest per-capita income from assets.

Taxing Rich People's Empty Homes Isn't Helping The Housing Crisis

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L.A. is planning to put a vacant homes tax on the ballot for 2022, in the face of a mounting homelessness crisis.

Tax Traps Abound For Clients Changing States

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Moving to an income-tax-free state may not always be worth it for wealthy clients, experts say.

Checkout.com CEO Worth $8 Billion Builds Family Office For Tech Bets

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Family offices are rapidly proliferating, driven by surging fortunes in technology and finance.

Senators Go Beyond Biden To End Private-Equity Tax Break

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The move would repeal the break for carried interest, which allows private equity managers to pay lower tax rates on their earnings.

Banker To World's Richest Families Has $3.6 Billion Fortune

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One of his firm's first investments, grill-maker Weber Inc., went public this week.

Ex-Wife's Property, Utah Ranch: How Wealthy Secure High Bails

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The bail amounts highlight a little understood part of the criminal justice system.

Billionaires' Row Condo May Face Foreclosure After Loan Default

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The owner of the exclusive condo defaulted on a $13.75 million mortgage.

Wealthy Americans Targeted By U.S. In Panama Tax-Fraud Probe

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U.S. authorities want information about wealthy Americans suspected of using a Panamanian law firm to evade taxes.

Purdue Pharma's Opioid Deal Hinges On Divisive Legal Maneuver

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A bankruptcy plan floated for Purdue could shield members of the billionaire Sackler family from opioid lawsuits.

Using Life Insurance To Cushion Blow Of Estate Taxes

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Life insurance strategies can lessen the impact if President Biden's tax hikes become reality.

World's Billionaire Factory Shudders As China Cracks Down

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The age of unfettered gains for China's ultra-rich now appears to be coming to an abrupt end.

IRS's Tax Audits Slid After End Of Program To Focus On Wealthy

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The IRS stopped a program in 2017 that focused on auditing individuals earning at least $200,000.

Billionaires Enjoy Huge Tax Breaks From Owning Sports Teams: ProPublica

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Some of the wealthiest owners in professional sports often pay lower effective tax rates than the athletes.

Trusts And Foundations Play A Key Role In Asset Protection

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Help your UHNW clients understand their options to facilitate a smooth transition of wealth.

Steve Ballmer Becomes Ninth Member Of The $100 Billion Club

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Ballmer, who now owns the NBA's Los Angeles Clippers, has seen his wealth grow by $20.1 billion this year.

How Rich Clients Should Prepare For A Biden Estate Tax Regime

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The fate of Biden's tax proposals is uncertain, so clients should not overreact, advisors say.

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