Sophia Duffy is an associate professor of business planning at The American College of Financial Services, where she teaches estate planning and taxation.
She is also an estate planning attorney with Winter & Duffy Law in Pennsylvania. She has published several papers in academic journals related to robo-advisors, Social Security, financial industry regulations and the impact of technology on the financial services profession.
State supreme court rulings granting frozen embryos the same legal status as children will have major impacts on financial planning, writes an expert on estate planning and tax law.
Parents can leverage their wealth to access the dream of homeownership for their kids — as long as income tax and gift tax consequences are factored in.
Schisms among parents, children and siblings are on the rise in the U.S. and must be factored into wills, powers of attorneys and other legal instruments.
With prospects for major tax hikes in the rear view (for now), it’s the time to blueprint ways to reduce clients’ taxable income for ‘22.
Bitcoin and the like may be the future, but right now the tax landscape is complicated.
Eliminating the step-up in basis for calculating taxes may not become law, but it’s worth exploring options with your small enterprise-owner clients, says Sophia Duffy.
Wealth management should be aware of these factors and how they impact products and processes.
More investors can now invest in private capital markets thanks to an SEC amendment that broadens criteria beyond wealth and income, writes Sophia Duffy.
The planning needs and strategies for a woman should focus more heavily on longevity and creating lifetime income streams after her spouse has passed away.
Your clients may have heard conflicting advice — they must change their IRA beneficiaries, spend down their IRA as soon as possible, dismantle their trust, or immediately convert their traditional IRA to a Roth IRA, Sophia Duffy writes.