October 2012
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Day 17/10/2012

Frozen Assets

The New York Times included a special “Wealth” section for the 1% in today’s print edition, including articles such as:

  • Parceling Out a Nest Egg, Without Emptying It (raising the issue of how much of the $5.12 million exemption on gift taxes can you exploit on your nest egg of $10 million but less than $40m; “nice calculations to have to make, but that does not make them any less stressful for the people making them.”);
  • A Guiding Hand for Bequests, Beyond the Grave (discussing how one might, for example, satisfy both a second spouse and children from a previous marriage with a “QTIP” — qualified terminable interest property trust);
  • Courting the Next Generation of the Rich (discussing the “exploding” popularity of “programs for the next generation of wealth holders” on topics such as financial literacy, prenuptial agreements and managing family dynamics).

Diego Rivera
Frozen Assets (1931)
Fresco on reinforced cement in a galvanized-steel framework
94 1/8 x 74 3/16″ (239 x 188.5 cm)