By Daniel A. Perry, Esq.Today, I want to talk about the often-overlooked estate income tax filing requirement. I was speaking with a client recently regarding the settlement of her late father’s estate. We were reviewing the matter and she made the statement, “inheritances are not taxed so we do not need to worry about any tax […]
By: Daniel A. Perry As with many different areas in securities law and securities regulation, this question is difficult to answer. In general, a Venture Capital Fund is exempt from registration with the Securities and Exchange Commission (SEC) under the 1933 Securities Act and the 1934 Securities and Exchange Act. In addition, the Dodd-Frank Regulatory Reform […]
By Daniel A. Perry, Esq.Today I want to talk to you about the issue that many of my clients face when combining families as the result of a remarriage.Combining households later in life can be tricky. Whether it is remarriage after the death of spouse, or after a divorce, there are issues that must be […]
By: Daniel A. PerryThe Investment Advisers ActIn 1940, the United States Congress passed the Investment Advisers Act. This act created several registration requirements that continue to be changed today in both the federal and state security division landscapes. The 1940 Act made it unlawful for most financial advisers to charge performance fees to its clients […]
I was speaking with a client recently regarding the aspect of potential long-term care planning. This client was very worried about not having enough money to pay for their long-term care costs and had begun to investigate the possibility of attempting to qualify for Medicaid later in life, should this become an issue.Specifically, this client […]
By Daniel A. Perry, Esq.Today, I’d like to speak to you about somewhat of a controversial topic. I was recently speaking with a client who asked me “Dan, should we step in and stop our parent from spending their money on these vacations and trips with his new spouse?” This is usually a very uncomfortable question and […]
By Daniel A. Perry, Esq. I was recently speaking with a client who said to me “Dan, I have a simple situation. My financial advisor said all I need is a simple will, powers of attorney, and advanced healthcare directives. My financial advisor told me that since all my accounts have beneficiary designations and my estate […]
By: Daniel A. PerryTime for yet another typical lawyer answer … it depends! As discussed in a previous article, a Mid-Sized Adviser is an adviser that manages between $25 million and $100 million in assets under management. Typically, these advisers must register with the state securities division in the state where the adviser conducts business […]
By: Daniel A. PerryThere are several requirements that an adviser must cover to stay in regulatory compliance. This includes business continuity plans, how fees are based on the valuation of your client’s assets, and how assets of clients are valued. It also includes the advisers trading practices, the policies and procedures that the adviser uses […]
By: Daniel A. PerryThis is a rather complicated question. If left unanswered, advisers may end up being held liable and subjected to fines before the various state and federal regulatory agencies. In addition, this also appears to be the area where advisers have the most difficulty in adhering to the various compliance standard.What are the […]