Americans pay taxes throughout their lives. They may think they're done once they die. Not so. An estate tax can still be levied on things the deceased owned or had certain interests in when they die. The tax is paid by the person's estate and can cut into beneficiaries' inheritances. The federal government charges an estate tax, but the threshold is high, so most people don't have to worry about it. Some states, not all, also have estate taxes − you may have to worry about those. States with estate tax ...

So-called tax-aware investing is quickly becoming one of the hottest trends in wealth management as the affluent seek to reduce their tax bills: Here’s your Evening Briefing https://t.co/YXUwYDruC4 ...

Core Insights - Tokenized assets are anticipated to revolutionize the investment landscape similar to how ETFs transformed mutual funds, offering lower fees, enhanced transparency, and instant transactions, yet they remain largely underutilized outside affluent portfolios [2] - Currently, approximately $30 billion of real-world assets are tokenized on blockchain, a small fraction compared to the $250 trillion global securities market, indicating significant growth potential [2] - The adoption of tokens in wealth management is still in its infancy, with industry experts suggesting that future developments will improve access to traditionally hard-to-trade asset classes like real estate [3] Industry Challenges - There is a notable lack of regulatory clarity and potential security risks that hinder the widespread adoption of tokenized assets [2][6] - Custodians and asset managers are seeking clearer regulations regarding the classification and integration of tokenized assets into the existing financial system [6] - The International Organization of Securities Commissions has highlighted that tokenization may exacerbate existing risks in traditional financial products and introduce new risks associated with the crypto market [6] Advisory Services Evolution - The programmability of tokens may lead to a shift in advisory practices, with advisors focusing more on financial planning rather than direct investment management [5] - Advisors will need to reassess their value propositions as the market segmentation may evolve towards catering to more self-guided investors [5] - The fundamental principles of portfolio construction remain unchanged, emphasizing the importance of underlying investment strategies over the technology used [4]