Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The biggest wealth transfer in history is about to happen — and it's now expected to be more than double what many thought it was. It's estimated that 45 million U.S. households will transfer $68 trillion in wealth over the next 25 years, according to Asher Cheses, a research analyst and lead author of a new report from financial services research firm Cerulli Associates.
Baby boomers, who hold the lion's share of that amount, are the wealthiest generation in American history — thanks in no small part to a 10-year bull market. That generation will pass down those assets over the next few decades. Here's what you should know to make sure that transfer is as smooth as possible.
Make sure the inheritance you're poised to bequeath remains intact. Health-care expenses can add up fast. The cost of long-term care can wipe out an entire potential estate in just a few years. While the premiums can be hefty, some financial advisors say long-term care insurance is worth it.
Most estates are not actually subject to federal estate tax now because the exemption is pretty high. But check the rules in your state. Some have much lower estate-tax thresholds.
If you want to put some conditions on how your bequest is spent, consider a trust. Trusts can dictate exactly when assets pass to beneficiaries, or how it should be spent. For example, you can stipulate expenses be tied to education, or health care. Another plus: Trusts can minimize estate taxes and keep your estate out of probate court.
Keep in mind, the probate court process can be time-consuming and expensive, which ultimately just chips away at your estate. Another way to avoid it is to supplement the will with something called a “living trust.” It holds the majority of your assets while you’re still alive (so you can maintain control) and then transfers it to your beneficiaries after you die.
Avoiding probate also keeps your wishes private. Probate is public, which means everyone knows your business.
So take care with that legacy planning now, and your heirs will be well in the black later on.