Charles Monat Associates: November 2007






PREVIOUS POSTS Wealth Transfer: 7 Ways to Maximize the Value of Y... Rowbotham & Co LLC article : Expatriation: A Growi... World's wealthy favour London and New York, with A... The Best Financial Advice I Ever Received Greatest Love of All OSU Cowboys' Death Wish Goes Unanswered, Lose $33 ... The domiciled, the deemed domiciled and the comple... Inheriting money from abroad is a pain. It should ... Individual becomes resident while in the UK on hol... Fuss to investors: Avoid these fixed-income ETFs ARCHIVES April 2005 July 2005 August 2005 September 2005 October 2005 November 2005 December 2005 January 2006 February 2006 March 2006 April 2006 May 2006 June 2006 July 2006 October 2006 November 2006 August 2007 September 2007 October 2007 November 2007 February 2008 October 2008 March 2009 April 2009 May 2009 June 2009 July 2009 October 2009 November 2009 December 2009 January 2010 February 2010 March 2010 April 2010 June 2010 July 2010 October 2010 November 2010 December 2010 February 2011 March 2011 April 2011 June 2011 September 2011 October 2011 November 2011 January 2012 February 2012 March 2012 April 2012
	Monday, November 26, 2007 The business of families Families have certain dynamics -- complex, fluid and emotional -- while businesses have very different ones. So what happens when the two combine? Read more... posted by Charles Monat Associates at 11:01 AM \| 0 comments Use a will or a trust in estate planning? Many people are confused about whether to use a will or a trust in estate planning. Each has its advantages and disadvantages. A will is a legal and binding contract that allows you to name a personal representative to administer your affairs upon your death. You can name a guardian for any minor children, provide for special needs for children or a spouse and leave instructions for the distribution of your assets. In the will, you can leave property to someone who would not otherwise inherit under the state’s intestacy law — if you passed without a will. You can disinherit someone via your will, except for your spouse unless the spouse agrees to not receiving the inheritance. Read more... posted by Charles Monat Associates at 10:55 AM \| 0 comments Friday, November 16, 2007 Therapists Tackle Emotional Burden of Being Rich For ultra-rich clients, financial-advisory firms provide all kinds of specialists. There are wealth planning specialists, risk management specialists, insurance specialists, trust specialists, and so on. Firms are starting to recognize, however, that this array of specialists isn't qualified for the more emotional — and sometimes darker — side of big bucks. Read more... posted by Charles Monat Associates at 9:46 AM \| 0 comments A Defective But Useful Trust The sunset provision that was built into the gradual repeal of the estate tax is beginning to loom on the horizon, and wealthy taxpayers are doing everything possible to reduce their taxable estates before the provision takes effect in 2011. Read more... posted by Charles Monat Associates at 9:44 AM \| 0 comments Buffett Backs Estate Tax Berkshire-Hathaway chairman Warren Buffett showed his support for the estate tax Wednesday, testifying before the Senate Committee on Finance that the so-called “death tax” is actually a “death present,” and to repeal it would be another step in the road to an American aristocracy. Referencing the ever-widening income gap and the enormous increase in wealth of the richest Americans, the billionaire Buffett stated that ``A meaningful estate tax is needed to prevent our democracy from becoming a dynastic plutocracy.'' Read more... posted by Charles Monat Associates at 9:39 AM \| 0 comments The Role of Advisors in Charitable Planning and Decision Making A very interesting survey from Registered Rep magazine, sponsored by Schwab Charitable shows increased opportunities for Charitable Planning conversations with clients. Schwab_whitepaper.pdf posted by Charles Monat Associates at 9:31 AM \| 0 comments Lloyd Blankfein and Ken Moelis on Wall Street Risks, Rewards and Opportunities When Merrill Lynch reported solid second-quarter earnings last July, chairman and CEO Stan O'Neal sent employees a memo boasting about the firm's risk management prowess. Only three months later, Merrill Lynch took its historic $8.4 billion write-down for losses in mortgage-related securities, with Citigroup and others soon reporting unprecedented credit losses as well. O'Neal and Citigroup chairman and CEO Charles Prince were both ousted from their jobs. Read more... posted by Charles Monat Associates at 9:27 AM \| 0 comments Monday, November 12, 2007 Hong Kong’s millionaires stay ahead of those in Singapore Hong Kong will continue to stay ahead of Singapore in terms of its number of millionaires and the assets they hold, according to a recent report by London-based market research firm Datamonitor. The number of Hong Kong millionaires will increase by 8.8% annually to 83,000 in 2011 from 51,000 in 2006. In Singapore, that number will increase by 7.3% annually to 29,000 millionaires in 2011 from 19,000 in 2006. Read more... posted by Charles Monat Associates at 9:05 AM \| 0 comments Wednesday, November 07, 2007 Norway's oil fund to grow to $600 bln Norway's oil fund, which invests the country's oil wealth, is expected to grow to $600 billion in four to five years from $350 billion currently, central bank governor Svein Gjedrem said on Tuesday. Read more... posted by Charles Monat Associates at 1:10 PM \| 0 comments Now flush, Norway turns tables on Sweden Long a poor cousin in Scandinavia, Norway has surpassed Sweden to become one of the richest countries in the world and a magnet for young Swedes ready to work hard to make a quick - and rather big - buck. Read more... posted by Charles Monat Associates at 1:08 PM \| 0 comments Succession Planning: Readers and Experts Talk The Oct. 22 Small Business Link looked at ways small companies had planned for a change in management at the top. We asked Tim Berry, founder and president of Palo Alto Software Inc. in Eugene, Ore., and Andrea Fetterman, director of corporate-image consulting at City Apparel, an offshoot of uniform and dry-cleaning business Kramer Enterprises Inc., in Findlay, Ohio, to be guest moderators on a reader forum on WSJ.com about succession planning. Read more... posted by Charles Monat Associates at 12:58 PM \| 0 comments Tax changes likely for estates If you have assets of more than $1 million, the cost of not planning will come in the form of potentially higher taxes if you die after 2010. That's when the current estate tax exemption (the amount that's not subject to tax) of $2 million in assets expires and reverts to the 2001 exemption of $1 million. The higher exemption was the result of President Bush's tax cut plan, which expires in 2010. Read more... posted by Charles Monat Associates at 12:52 PM \| 0 comments How to Handle Beneficiary Designations The decision about how to designate beneficiaries for your company retirement plan, life insurance policies, and other assets might seem like a no-brainer. Chances are you would like those near and dear to you to inherit any money you've accumulated during your lifetime, so making sure that happens should be as simple as writing their names on the appropriate forms, right? Read more... posted by Charles Monat Associates at 12:50 PM \| 0 comments Retirement planning: Key points you must know The younger generation has fancy ideas about retirement. Many dream of retiring early, and then pursuing their hobbies or passions, or seeing the world extensively. Whether you subscribe to this view or whether you have the more traditional view of retirement, i.e. retire at 60, plan the occasional pilgrimage and devote time to reading or spirituality, it helps plan well and in advance. Read more... posted by Charles Monat Associates at 12:49 PM \| 0 comments
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