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Trusts and Wills: What if the document no longer fits the family situation?
A common complaint about the trust or will of a deceased ancestor is that the terms of the trust or will are not responsive to changed circumstances and events not contemplated at the time the instrument was signed. Trust beneficiaries may become disabled or improvident. Family members may develop conflicts. Tax laws may have radically changed. […]
Audit Committee Performance Evaluations
“I don’t think there’s a company, a management, an audit committee that hasn’t gone back and re-looked at what they’re doing … People are really scrutinizing and (want to) really make sure their houses are in order and clean.” — William Esrey, Sprint CEO July 1, 2014, was the effective date of New York’s
Doing business internationally doesn’t have to be hard
Welcome to the inaugural edition of “Thinking International,” a column dedicated to all things international as it relates to uncovering new business opportunities. The goal
The Non-Techie’s Guide to Google’s Mobile-Friendly Update
April 21 is a day that lived in infamy (or glory) for many websites, as Google updated its criteria and began ranking mobile-friendly websites higher.
Addressing key questions about the Nonprofit Revitalization Act
The state’s Nonprofit Revitalization Act (NPRA) took effect July 1, 2014. Nonprofit organizations throughout New York have invested a significant amount of board, management, legal, and financial effort in complying with requirements of this extensive reform legislation. Two of the primary focus areas for both reform and increased board governance regard conflicts of interest and
What others dream about, WISE women do. On April 21, the women Igniting the Spirit of Entrepreneurship (WISE) Symposium hosted its 13th annual event. More than 900 aspiring entrepreneurs who desire to attain success and significance attended the event at the Carrier Dome on the Syracuse University campus. Over the past decade, WISE has
Key role for board, audit committee members: Ask smart questions
As an auditor, I’m asked a wide variety of questions, and I welcome those inquiries from my clients. As in any productive relationship, communication with your auditor is not only helpful, but also the cornerstone of working together effectively. Certain communications are required, and should be proactively addressed by your auditor. Top topics of
Cost-Benefit Analysis for Financial Planning
Many investors ask about the cost-benefit analysis of financial planning. Fee-only advisors can claim their compensation is straightforward and easy to understand. In contrast, commission-based advisors, due to their complex billing, are hard pressed to provide you with your true costs. Thus, you may already be paying more than you realize. Many financial professionals
Avoiding a Government Head Fake on Retirement Savings
Retirees should reconsider strategies on IRA, 401(k) withdrawals A government rule on retirement savings may be tricking retirees into looking at their financial situations all wrong. The rule says retirees can’t leave money in their IRA or 401(k) accounts forever. At age 70½, they must begin making minimum withdrawals, even if they prefer
Tax refund burning a hole in your pocket? Five ways to use it wisely
Ideally, your tax refund shouldn’t be at a level that makes you want to do a touchdown dance. Large refunds mean the government is getting an interest-free loan from you during the year. Sure, it’s nice to get a lump sum of cash to do something with, especially something fun. Wouldn’t it be better, though,
Get our email updates
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