Wealth Management

Spend-Down Policies Offer Flexibility

Spend-Down Policies Offer Flexibility

by Anne Bucciarelli, Jennifer Couturier

Perpetuity is no longer the default position for philanthropists establishing a private nonoperating foundation or donor-advised fund (DAF) in the US. But not all philanthropists understand the profound implications for asset allocation that come from choosing to spend down their assets rather than aim for perpetuity: Spend-down policies generally offer much greater flexibility.

Philanthropy, Wealth Management


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Micro-Cap Banks: An Evergreen Alpha Source
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Revisiting the 20,000 Dow

Revisiting the 20,000 Dow

by Seth J. Masters

The Dow Jones Industrial Average reached 20,000 in late January, ahead of the five- to 10-year time frame we laid out in our forecast four and a half years ago. Over the next five years, we expect the Dow to revisit 20,000 many times, on the way down as well as on the way back up. Here’s why.

Equities, Wealth Management


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How to Grow Your Philanthropic Impact
This Is No Time to Bail on Bonds
Is Diversification Dead?
Offshore Fund Managers: Charitable Donations Can Reduce Tax on Long-Deferred Pay

Offshore Fund Managers: Charitable Donations Can Reduce Tax on Long-Deferred Pay

by Daniel Brunello, Andrea Ross, Tara Thompson Popernik

Managers of offshore hedge funds and offshore private equity funds may owe billions of dollars in tax this year on incentive and management fees they earned in years past. Various charitable strategies can reduce the income tax due as well as potential estate tax, but the managers need to act before the end of 2017.

Wealth Management


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A Checklist for the Newly Divorced

A Checklist for the Newly Divorced

by Andrea Ross

Divorce can be a long and painful process. When the papers are finally signed, you may feel like breaking out the champagne—or hiding your misery in bed. But pretty quickly, you’ll have to turn to practical and financial matters. Here’s a checklist to guide you, as you set yourself up to be financially separate.

Wealth Management


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Don’t Expect the Easy Market Gains of the Reagan Era
Stripping the Illusion of Tax Efficiency from Index Funds
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