Nerd’s Eye View

Unwinding An “Irrevocable” Life Insurance Trust (ILIT) That’s No Longer Needed

The Irrevocable Life Insurance Trust (ILIT) has long been a staple of estate planning – a means of avoiding the death benefit of a life insurance policy from being subject to estate taxes by having it owned not by the insured or family themselves, but an independent third-party trust holding the life insurance for theRead More…
Author: Michael Kitces
Posted: December 12, 2018, 12:05 pm

#FASuccess Ep 102: Transitioning From Wirehouse To Independence: Is The Grass Really Greener? With Michael Henley

Welcome back to the 102nd episode of Financial Advisor Success Podcast. This week’s guest is Michael Henley. Michael is the founder and CEO of Brandywine Oak Private Wealth, an independent advisory firm in the Brandywine Valley of Southeastern Pennsylvania that manages more than $500 million of client assets. What’s unique about Michael, though, is that he’sRead More…
Author: Michael Kitces
Posted: December 11, 2018, 12:17 pm

Understanding FPA National’s “OneFPA Network” Plan To Dissolve And Consolidate Its Own Chapters

It’s no secret that the Financial Planning Association has struggled for many years with stagnant membership amidst an increasingly difficult and competitive landscape for membership associations given both the rise of social media (and more online platforms for people to connect outside of traditional networking and professional associations) and intra-industry competition from other membership andRead More…
Author: Michael Kitces
Posted: December 10, 2018, 12:05 pm

Weekend Reading for Financial Planners (Dec 8-9)

Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the latest edition of Financial Planning magazine’s annual Advisor Technology survey, showing the most widely adopted advisor software tools in various categories… and highlighting that, with the proliferation of advisor technology, the problem now is not the threat ofRead More…
Author: Michael Kitces
Posted: December 7, 2018, 7:57 pm

Year-End Tax Planning Opportunities For Cash-Basis Small Business Owners

Generally speaking, business owners have at their disposal two common accounting methods allowed by the IRS. The first, and more complex, is the accrual method, in which businesses recognize income when the business has performed its service or delivered its goods, and expenses after everything has occurred that would require an expense to be paid.Read More…
Author: Michael Kitces
Posted: December 5, 2018, 12:03 pm