PricewaterhouseCoopers releases first ever digital version of 2010 Guide to Tax and Wealth Management and companion website

The Guide is accompanied by a new online resource center that provides individual chapters, video interviews with partners and access to other resources

NEW YORK, October 15, 2009 – PricewaterhouseCoopers today released its 13^th Annual Guide to Tax and Wealth Management, 2010. This year, in light of the current economy and pending tax law changes under the Obama Administration, the Guide was restructured to focus broadly on the wealth management strategies and tools that are most instrumental to building an effective plan. Available for free download for the first time at www.pwc.com/pfs, the new Guide offers strategies and guidance on how the new economic environment impacts wealth management planning for individuals, families and business owners.

Also for the first time, the Guide is supported by an online resource center, which allows users to download specific chapters or the full book, view video interviews with partners on important financial planning topics and gain access to other PricewaterhouseCoopers resources on personal finance and wealth management. Together, the Guide and online resource center serve as a reference for overall financial planning, including:

Strategic tax planning
Managing your portfolio
Charitable giving
Estate and gift planning
Business succession planning
Choosing entities for businesses/investments
Family limited partnerships
Insurance
Family offices
Working with financial advisers

“Certainly, in the last year, much has changed, and the economic landscape continues to evolve. But opportunity is inherent in times of change,” says Richard Kohan, lead personal financial services principal with PricewaterhouseCoopers Private Company Services and co-author of this year’s Guide. “Within this context, many individuals and businesses may want to reconsider their short- and long-term plans. Our goal is to describe the pertinent concepts and strategies so individuals and business-owners can discuss these topics knowledgeably with their advisors.”

Written in easy-to-understand language, the Guide avoids complicated tax jargon while clearly explaining complicated wealth management strategies, including a four step process to successfully build an effective estate plan.

With the Obama Administration expected to affect further changes – likely, increases – in the tax environment, the time to review existing financial plans and strategies is now. “This year, perhaps more than any in recent memory, calls for an in-depth review of one’s financial approach. Tax planning and wealth management are undertakings that should be actively overseen throughout the year, but year’s end is a logical time to step back and take a fresh look at both your goals and the ways you plan to reach them,” adds Brittney Saks, personal financial services partner with PricewaterhouseCoopers Private Company Services and co-author of this year’s Guide. “We write the Guide to Tax and Wealth Management each year to educate people on financial and wealth management opportunities that should be considered during year-end planning. Of course, our 2010 Guide is a good place to start, but we have always recommended speaking with a qualified adviser to plan financial strategies for the future.”

In addition to personal wealth management, the Guide also looks at strategies for business owners, including succession planning, choosing entities for businesses/investments and insurance. Since many business owners do not begin to plan for the succession of the business early enough, they fail to identify the person who will take over leadership of the business. This failure prevents critical planning that is essential for an orderly transition of the business. “At the same time they’re reviewing their personal year-end wealth strategies, it’s important that business owners also contemplate the eventual transfer of their businesses, whether to family members, other shareholders, key employees, or a third party,” adds Saks.

"Preparation is the best plan in uncertain times, and between slowed economic growth at home and the coming tax reform, uncertainty seems plentiful,” adds Kohan. “Individuals who take the time now to develop and fine-tune a proactive tax and financial plan will be best positioned to take advantage of opportunities as they arise.”

About PricewaterhouseCoopers

The PricewaterhouseCoopers Personal Financial Services practice comprises a national network of experienced personal tax and financial advisors who help high net worth individuals effectively preserve and enhance their wealth. Our professionals provide a wide range of independent financial planning advice, including family office services, personal investment advisory services, wealth transfer solutions, business succession planning, personal tax services, charitable planning, lifestyle planning, and executive and employee financial program services. For more information about our personal financial services, please visit www.pwc.com/pfs.

PricewaterhouseCoopers Private Company Services works with a majority of the leading private companies in the U.S. Our 2,000 private company individuals focus on understanding the strategy and business objectives of private companies and their owners, working together to add value while reducing risk. Our professionals are provided with cross training to enable them to connect the dots across a number of private company issues such as compliance, controls, access to cash flow, expansion, exit strategies, succession, wealth management and the many areas that can help build or diminish long term success and value. For more information about PwC's private companies services please visit www.pwc.com/pcs.

PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 155,000 people in 153 countries across out network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

“PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP (a Delaware limited liability partnership) or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity.

About the Authors

Richard Kohan is a Personal Financial Services Principal in PricewaterhouseCoopers Private Company Services practice in New York. Rich serves as the national strategic leader of the PCS focus on high-net-worth-individual (HNWI) clients and as a trusted adviser to HNWI clients. He is the client engagement partner on several HNWI client relationships. As their personal trusted adviser, Rich addresses many tax, wealth management, and transfer matters for such clients and their families. In addition, Rich speaks on leading-edge financial planning topics such as executive wealth transfer techniques, investment strategies, employee benefits, stock options, and retirement planning. He leads seminars on various aspects of financial planning for PricewaterhouseCoopers professionals, as well as top executives in a number of Fortune 1000 companies. Rich received a BS in political science from Syracuse University, a JD from Western New England School of Law, and an LLM in tax from Boston University School of Law. Rich is a member of both the American and Connecticut bar associations.

Brittney B. Saks is a Personal Financial Services Partner in PricewaterhouseCoopers Private Company Services practice in Chicago. Brittney has provided income, trust, and estate tax consulting and compliance services—which include compensation, investment, business succession, charitable giving, and retirement planning strategies—for business owners, corporate executives, and wealthy families for the past 18 years. Most of Brittney’s time is spent working with high-net-worth family tax and financial planning issues, both from consulting and compliance perspectives. She is the lead engagement partner on some of the largest and most complex family office clients in Chicago. Brittney has received the Personal Financial Specialist designation and is a certified public accountant. She has a BS in accounting from the University of Illinois at Urbana-Champaign, where she graduated with highest honors, and a master’s in taxation from DePaul University, where she earned special distinction. She is a member of the American Institute of Certified Public Accountants (AICPA) and the Illinois CPA Society.

Additional contact
Meaghan Smith
Edelman for PricewaterhouseCoopers
+1 (212) 704 8196