January 19, 2012
It's a scene that has the nervous-perspiration intensity of a training session at a cutthroat brokerage. Attorney Mitzi Lauderdale is drilling her charges on the aspects of estate planning, peppering them with questions: How do you calculate the capital gain on an item that has been gifted multiple times before being sold?
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"It's an industry fraught with problems, abuse, misunderstandings, court cases, you name it," says Texas Tech professor Deena Katz, and the only way around that is "to have advisers with a formalized education."