Articles by Charles Auerbach, CFP®, CLU®, ChFC®
Asset protection trusts
One of the realities of life in the U. S. today is the risk of being named in a lawsuit. In the year 2005, it is estimated that over 5 million law suits were filed in this country. Perhaps the reason for this is that 74 percent of all the lawyers in the world practice in the U. S.
The pension reform act of 2006
The most significant pension reforms in a generation were signed into law in August offering added incentives and flexibility to workers who are saving for their retirement. In addition, the law contains a number of provisions designed to strengthen traditional pension plans by requiring companies to beef up financial contributions to fund their future pension liabilities.
Engineered cost segregation: the ticket to dramatically accelerating the depreciation of real property
As we all know, the IRS allows the owners of income producing real estate the right to claim tax deductions for asset depreciation. Generally speaking, the building and its major components can be “written off” using a 39 year depreciation schedule. Assets located within the building structure, and certain other identifiable components such as roofing, parking lot pavement etc.
Smart philanthropy for a real and lasting legacy
The principals of Wealth Strategies Group strongly believe in the importance of philanthropy and the need for those who are blessed and bountiful to give back something to those less fortunate among us. We maintain a strong commitment to our community and recognize the need to be good corporate citizens as well.
How will you define your legacy?
Part of the aging process is the realization that we are not immortal and that life goes on beyond our being here. While there is much in life that is out of our control, there is one very important thing we can control. That is our legacy.
Year end tax planning should start in the last quarter of the year
The last quarter of the year is always a good time to think about ways to reduce your tax burden. Here are some ideas you may wish to consider: Manipulate your income—The general rule of thumb is whenever possible defer receipt of income into the next year and accelerate the payment of tax deductible items into the current tax year. Unfortunately, it is not quite that simple.
“real” versus “relative” return: does this really relate to you?
Investment managers will frequently report their performance to you by comparing their returns to a benchmark or set of benchmarks. For example, U. S. equity manager returns are often compared to the S&P 500 Index. By so doing the manager is giving you a measurement of relative return which tells you how he/she did—as compared to a specific measuring stick.
Values-based legacy planning: your best vaccine against "affluenza"
There is an epidemic known as “affluenza” occurring in America that is affecting large numbers of more affluent families. Affluenza is defined as the dysfunctional relationship with money, wealth or the pursuit of it. One of the more commonly observed effects of Affluenza can be witnessed in the manner in which inheritors of wealth squander their new found bounty.
What does the falling dollar mean to you?
Over the past several months we have seen a steady decline in the value of the U. S. dollar versus other major currencies such as the Euro and the Yen. The weakness in the dollar is starting to have its impact. For those traveling overseas, you will notice a significant increase in all travel related costs as you attempt to exchange your dollars into the local currency.
