Journal of Accountancy Large Logo

Search Results

Personal Financial Planning

Sort by: Show:
Page  1 | 2 | 3 | 4 | 5 >> 

1. Boilerplate trust clauses  

BY Patricia M. Annino, J.D., LL.M.
Many clients sign estate planning documents without paying much attention to the clauses they contain. One clause that few clients pay attention to is the one governing how that client’s incapacity could be determined—and therefore how the client could be removed from serving as a fiduciary or trustee.

2. Investors’ confidence in U.S. public companies grows   WebExclusive

BY Ken Tysiac
Investors’ confidence in investing in U.S. public companies—and in audited financial information released by those companies—has risen to a seven-year high in 2014. According to the Center for Audit Quality’s (CAQ’s) Main Street Investor Survey, 80% of 1,049 investors surveyed said they have some, quite a bit, or a great deal of confidence in investing in U.S.

3. Asset protection of retirement funds after Clark   CPEDirect

BY Daniel S. Rubin, Esq.
What’s in a name? According to the U.S. Supreme Court, nothing.In June, the Supreme Court in Clark v. Rameker, No. 13-299 (U.S. 6/12/14), said that just because funds are held in an account called an individual retirement account (IRA), it doesn’t necessarily mean that they are retirement funds.

4. Supreme Court: Inherited IRAs are not retirement funds   CPEDirect

BY Sally P. Schreiber, J.D.
The decision resolving a circuit split allows an inherited IRA to be included in a bankruptcy estate. The U.S. Supreme Court in Clark v. Rameker held that funds in an inherited individual retirement account (IRA) were not retirement funds that were exempt from a husband-and-wife debtors’ bankruptcy estate.

5. QDROs demand the attention of CPAs   CPEDirect

BY Ray A. Knight, CPA/PFS, J.D., and Lee G. Knight, Ph.D.
A key issue in separation, divorce, and other domestic relations proceedings is whether and how to divide a participant’s interest in a retirement plan. This is a recurrent issue in divorce proceedings, because more than 90 million workers in the United States actively participated in private employer-sponsored retirement plans as of 2011 (Department of Labor, Private Pension Plan Bulletin, June 2013, available at tinyurl.com/muvj2pr).

6. Risky business of serving the rich and famous  

BY Amy Waldron, CPA
Money. Fame. It’s not just for the entertainers of the world. Accountants can be well-known and famous or, in some cases, infamous. You may have read about pop stars, actors, and professional athletes being “driven to bankruptcy” by their accountants and financial advisers. CPAs providing a menu of services to these high-profile individuals are at risk of being blamed for a decline in the celebrity’s net worth.Family office services provided to the rich and famous, as well as to privately wealthy families, may include traditional accounting services such as a full range of tax, accounting, financial planning,

7. Guidance issued on application of Windsor to retirement plans  

BY Alistair M. Nevius, J.D.
Qualified plans must recognize same-sex marriages after the Windsor decision and must be amended, if need be, to make them conform to the results of that decision. Under guidance issued by the IRS, administrators of qualified retirement plans must recognize the same-sex spouses of legally married participants as of June 26, 2013, but are not required to amend their plans to retroactively recognize participants’ legal same-sex marriages before that date.The Supreme Court, in Windsor, 133 S.

8. IRA participants can purchase longevity annuities   WebExclusive

BY Sally P. Schreiber, J.D.
Final regulations issued on Wednesday (T.D. 9673) permit individual retirement account (IRA) participants to enter into contracts for annuities that begin at an advanced age (often called longevity annuities), using a certain amount of their account balances, without having these amounts count for calculating required minimum distributions from the IRAs under Regs.

9. Supreme Court holds inherited IRAs are not retirement funds   WebExclusive

BY Sally P. Schreiber, J.D.
In a unanimous opinion written by Justice Sonia Sotomayor, the U.S. Supreme Court on Thursday held that funds from an inherited IRA were not retirement funds that were exempt from the debtor’s bankruptcy estate (Clark v. Rameker, No. 13-299 (U.S. 6/12/14), aff’g 714 F.3d 559 (7th Cir. 2013)).

10. Considerations when working with an aging client base  

BY Sarah Beckett Ference, CPA
I provide bill-paying services to my elderly client, and I’m afraid she’s going to run out of money soon. My client’s mental capacities appear to be diminishing. I’m not sure he understands the engagement letter I’ve asked him to sign. My elderly client’s child has a gambling problem and always asks for money.
Page  1 | 2 | 3 | 4 | 5 >> 
CPE Direct articles Web-exclusive content
AICPA Logo Copyright © 2013 American Institute of Certified Public Accountants. All rights reserved.
Reliable. Resourceful. Respected. (Tagline)