Tuesday, March 18, 2008

Solving Problems of Wealth

In a special section, Wealth and Personal Finance, today's New York Times explores the problems of wealth.

What if Muffy's UTMA (Uniform Transfers to Minors Act) account has skyrocketed to $5 million and she'll be able to collect her loot in a couple of years?

How do you get rid of a corporate trustee that keeps rotating trust officers and never returns your calls?

Wealth poses a host of perturbing problems, according to the Times. Becoming an Ultra High Net Worth Individual almost sounds like more trouble than it's worth.

Happily, good wealth managers can help UHNWIs deal with the issues.

Alternatively, there's the free-market solution: Think of all the Bear Stearns people who saw their wealth-management concerns vanish over the weekend!

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