Most Clicked Financial Planning Digest Stories


1. A guide to helping with college costs

Financial Planning Digest | Apr 27, 2015

College costs are staggering, and it's common for family or friends to try to help. But offering assistance the wrong way could have negative consequences for clients and students. Section 529 plans may be helpful, but they can come with their own set of complications. Distributions must be timed carefully so they don't count as students' income, which could affect aid eligibility. Advisers should also ensure that clients can pay for their own retirement before they help fund a student's college expenses. Financial-Planning.com (04/23)


2. Expanded FAQ provides guidance for following AICPA PFP standard

Financial Planning Digest | Apr 30, 2015

A frequently asked questions resource has been updated to assist practitioners in following the Statement on Standards in Personal Financial Planning Services. Among other things, the resource clarifies key terms and documentation and disclosure requirements and can help practitioners determine whether the standard applies to them. Access the standard and FAQs, available free to all professionals, and the Compliance Toolkit, available free to PFP/PFS members or for purchase by nonmembers. Journal of Accountancy online (04/29)


3. Rogoff: Downturn is not the start of a new normal

Financial Planning Digest | Apr 27, 2015

Harvard economic historian Kenneth Rogoff disagrees with analysts who think we're heading into an era of "secular stagnation." Rogoff says the current situation is more indicative of a "garden variety post-WWII financial crisis" and that normal economic cycles will continue. ThinkAdvisor (04/22)


4. Senate committee approves 3 changes to 529 plans

Financial Planning Digest | Apr 30, 2015

InvestmentNews (free registration) (04/29)


5. How to balance active and passive investments

Financial Planning Digest | Apr 27, 2015

How investors balance their portfolios between actively managed funds and index funds should depend on several factors. Among them are tax efficiency, risk management and return expectations. Morningstar (04/19)


6. Most Americans regret the way they paid for college

Financial Planning Digest | Apr 30, 2015

Journal of Accountancy online (04/29)


7. Planning mistakes can threaten an S corporation's status

Financial Planning Digest | Apr 30, 2015

Estate planning mistakes can lead to the inadvertent termination of a corporation's S status. If a client holds stock in an S corporation, it's important to make sure the stock will pass to a permitted shareholder after the client's death. Certain types of trusts are not qualified to hold this stock. CPA Insider (04/27)


8. Texas case focuses on "constructive property distribution" of art

Financial Planning Digest | Apr 27, 2015

A Texas legal case involves an estate that is contesting the IRS' decision to assess $40.7 million in taxes for a company's alleged distribution of $140 million in art. The estate argues that the company did not make a "constructive property distribution" of the art, while the IRS claimed that the owners of the estate were using the company's art for free. The case illustrates the challenges involved with getting the IRS to recognize assets like art as separate corporate assets. WealthManagement.com (U.S.) (04/20)


9. Survey: Boomers can benefit from working with advisers

Financial Planning Digest | Apr 27, 2015

A study by the Insured Retirement Institute indicates that 40% of baby boomers have saved nothing for retirement. However, 9 in 10 respondents who work with advisers say they have some money stocked up. Advisers can help clients by asking about their goals and helping them figure out how much income their savings will create. Financial-Planning.com (04/21)


10. A planner's time is worth ... how much?

Financial Planning Digest | Apr 27, 2015

You can calculate the value of an hour of your time by dividing your yearly income by 2,000, writes Michael Kitces. Increase the value of your time by participating in professional-development activities, developing niche knowledge and outsourcing or delegating low-value tasks. Nerd's Eye View blog (04/20)




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Designed specifically for CPA personal financial planners and others interested in financial planning, Financial Planning Digest is a FREE monthly e-mail newsletter from the AICPA. It provides the most important and timely news stories to support personal financial planners. Learn more