ll too often, family wealth fails to last. One generation builds a business – or even a fortune – and it is lost in ensuing decades. Why does it happen, again and again? It is because families fall prey to serious money blunders – old and new. Classic mistakes are made, and changing times aren’t recognized. Procrastination. This isn’t simply a matter of failing to plan, but also of failing to respond to acknowledged financial weaknesses. For[…]

We are now in plain view of the “fiscal cliff”. After the election, Congress may or may not end up keeping income and estate tax rates at their recent levels. Next year may bring some notable financial developments, and it isn’t too soon for households to think about them. You may want to prioritize tax reduction. If the Bush-era tax cuts sunset, everyone will see higher taxes. The federal income tax brackets (10%, 15%, 25%,[…]