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1. The Generation-Skipping Transfer Tax: A Quick Guide

October 2009 | BY MARK E. POWELL, ESQ. | Article

Sooner or later, every estate planner comes face to face with the generationskipping transfer tax (GSTT). Many practitioners do not feel up to the challenge because this particular tax has a reputation for being as treacherous as the sea. But after you boil down all the complications, you’re left with a fairly direct set of circumstances to watch for.

2. Lessons Learned From the Financial Crisis

October 2009 | Article

Since the onset of the economic crisis last fall, many CPAs who are personal financial planning specialists have been working overtime to reassure clients overwhelmed with fear about the future and safety of their investments and to reassess and reorient investment portfolios when necessary. Members of the AICPA’s Personal Financial Planning (PFP) Section recently reflected on their experiences from the past year and their outlook for the future.

3. Excerpts From the Personal Financial Planning Round Table

October 2009 | Article

Editor's note These are Webexclusive excerpts from the JofA's round table discussion with members of the AICPA's Personal Financial Planning Section. Also read Lessons Learned From the Financial Crisis, Oct. 09. PARTICIPANTS' PERSPECTIVES ON GETTING INTO PERSONAL FINANCIAL PLANNING Lyle Benson We’re all living examples of CPAs who made the decision to enter into this area a long time ago in our careers.

4. New Exam Options Offer Pathways to PFS Credential

September 2009 | Article

An examination leading to the AICPA’s Personal Financial Specialist (PFS) credential is now available in hundreds of cities nationwide, along with a live, interactive online offering of the exam’s casestudy component. Together, these features of the new PFS Pathway program are intended to allow CPAs anywhere to obtain the PFS credential with minimal time away from the office.

5. Quick Points on Prenups

January 2009 | BY Joel A. Schoenmeyer | Article

Premarital agreements (also known as prenuptial agreements, or “prenups” for short) involve elements of estate planning and divorce law. And because such agreements can center on finances and taxes, accountants should be aware of how they operate. WHEN A PRENUP MAY BE NEEDEDPrenups aren’t just for rich people—they are for anyone who is concerned about losing control of his or her property as a result of marriage.

6. Social Security for Two

January 2009 | BY Francis C. Thomas | Article

CPA financial planners are often confronted with the question, When should I start collecting Social Security benefits? For married couples, the question should be asked in the plural. Current financial needs and expected life span may be paramount considerations for a single person. However, the implications of when to begin receiving benefits (and on which spouse’s work record) for spousal and survivor’s benefits not only introduce key points for every married couple to ponder but also create additional strategic opportunities for financial security in their golden years together.

7. Estate Planning: Time for a Tuneup

January 2009 | BY William M. Weintraub, Michael B. Allmon | Article

A CPA is in an excellent position to help clients address the issues of estate planning. CPAs are usually aware of the scope of their clients’ assets and often know something about family relationships, recent marriages, children, grandchildren and other key facts. They see their clients annually in connection with the preparation of income tax returns.

8. AICPA and InvestmentNews Offer Online Discussion Forum for Financial Advisers

December 2008 | Article

The AICPA and InvestmentNews have launched “Ask the CPA,” an online discussion forum on advising clients in times of economic crisis. InvestmentNews readers may post their questions at www.investmentnews.comcommunity. CPAs holding the Institute’s personal financial specialist (CPAPFS) credential will respond. The forum will run through December 31, 2008.

9. Does Private Equity Belong in Your Client's Portfolio?

November 2008 | BY Michael Dowd | Article

Faced with a slumping stock market and lowyield bond portfolios, some fund managers maybe tempted by the higher potential yields of private equity. Before leading clients to this option, advisers should ask some hard questions R Do you understand the deal? Is the specific industry one you believe you can get your arms around? Some investments, notably real estate and producing oil properties, may have simpler economics and more transparent balance sheets and disclosure than startups and technology companies.