Latest news with #FiduciaryTrustInternational
Daily Mirror
4 days ago
- Daily Mirror
Justice in DNA: New York identifies three more victims of 9/11 attacks almost 25 years on
Officials in New York named two of the victims as Ryan Fitzgerald, 26, of Floral Park, New York, and Barbara Keating, 72, of Palm Springs, California Three more victims of the September 11 terror attacks have been identified through advanced DNA analysis, nearly a quarter of a century after the atrocity. Officials in New York named two of the victims as Ryan Fitzgerald, 26, of Floral Park, New York, and Barbara Keating, 72, of Palm Springs, California. The third, an adult woman, has been identified, but her family has requested that her name be withheld. The three new identifications bring the total number of confirmed victims to 1,653 out of the 2,753 people who were killed in New York in 2001. It means that more than half of those who perished in the collapse of the World Trade Centre remain unidentified. 'The pain of losing a loved one in the September 11th terror attacks echoes across the decades, but with these three new identifications, we take a step forward in comforting the family members still aching from that day,' said New York City Mayor Eric Adams. 'As a former law enforcement officer who served our city on 9/11, I understand deeply the feeling of loss so many families have experienced. We hope the families receiving answers from the Office of Chief Medical Examiner can take solace in the city's tireless dedication to this mission.' Fitzgerald was working as a currency trader for Fiduciary Trust International in the south tower of the World Trade Centre. His mother, Diane Parks, said that her son had recently moved to the city. She learned after his death that he had been spending his money on clothes from Banana Republic and gifts for his girlfriend. Ms Parks told the New York Times that Fitzgerald had spoken of attending a friend's bachelor party in Las Vegas. She had advised him against it at the time but later felt happy that he had gone. 'It made me feel good that he enjoyed the summer because it was the last summer of his life,' she said. Keating, a grandmother and long-time public servant, was a passenger on American Airlines Flight 11, which was hijacked after leaving Boston bound for Los Angeles and flown into the north tower. Her son, Paul Keating, described her in an obituary as 'smart, tough, professional and funny'. She spent more than 25 years in public service, much of it with the non-profit Big Brothers Big Sisters of South Middlesex, which is located outside Boston. Widowed for 20 years, she split her time between Cape Cod, Massachusetts, and California, where she drove a red convertible and attended church daily. Chief Medical Examiner Ryan Graham said: 'Nearly 25 years after the disaster at the World Trade Center, our commitment to identify the missing and return them to their loved ones stands as strong as ever. 'Each new identification testifies to the promise of science and sustained outreach to families despite the passage of time. We continue this work as our way of honouring the lost.' The identification of victims has been a painstaking process, relying on advancements in DNA testing to work with remains that were severely damaged by the fires, collapse and recovery operations. The task has been described by forensic teams as one of the most complex in history. Sharon Premoli, a survivor who escaped from the 80th floor of the north tower, said the work remained vital to those who have lived for decades without answers. 'While I did not lose a family member on 9/11, I know from having spoken to some who have yet to get a definitive identification, that to them, their loved one has disappeared,' she said. 'That disappearance has to exacerbate a grief that may never subside. Losing a child, a spouse or partner, or a sibling with no remains prevents any kind of closure.'
News.com.au
4 days ago
- News.com.au
‘Amazing feat': Three 9/11 victims finally identified 24 years later
The remains of three more 9/11 victims have been identified – as one family praised the city for 'working their ass off' 24 years after the horrific terrorist attacks. Floral Park resident Ryan Fitzgerald and Palm Springs, California grandmother Barbara Keating were positively ID'd – as well as an adult woman whose family did not want her name released publicly, officials announced on Thursday. The Office of Chief Medical Examiner used advanced DNA testing and family outreach to ID the remains — the 1,651st, 1,652nd and 1,653rd victims officially identified since the attacks. Fitzgerald, 26, was working as a foreign currency trader at Fiduciary Trust International in the south tower when a hijacked plane crashed into it while Keating, a 72-year-old grandmother, was on American Airlines Flight 11 that left Boston shortly before it spiralled into the north tower. Keating's son Paul Keating, 61, commended the staff at the medical examiner's office for 'still working their ass off' all these years later, saying 'they won't rest for us.' 'And I don't know how to react to that. It's just an amazing feat, gesture – it's more than that because they've been doing it as their life for 24 years,' Paul Keating, 61, told The Post. 'We're talking about moving six blocks of Manhattan to Staten Island and going through it milligram by milligram for 24 years,' he added in reference to the wreckage moved to Fresh Kills in the aftermath. 'I mean, isn't that amazing to you. No one's ever done something like that for me, my family ever and I couldn't thank them enough.' Paul Keating said city officials were in touch with he and his four siblings soon after the unthinkable day changed New York and the nation. The beloved matriarch was among 2,753 people killed in lower Manhattan. First authorities found a 'tiny piece' of her ATM card in checked-in luggage about 20 years ago, then found part of her hairbrush that was ultimately matched to her a few years ago after two of children submitted DNA, he said. He said the medical examiner's office reached out again about positively matching the remains three months ago before receiving confirmation around a month ago. Barbara Keating had spent the summer months on Cape Cod before returning home to California, and always took a cross-country flight the second Tuesday of each September, her son said. She led a chapter of Big Brothers, Big Sisters, and was also the director of an agency in Massachusetts that helped the mentally disabled. In retirement, she worked for her local Catholic Church in Palm Springs. 'She was an awesome grandmother,' he recalled. 'All the kids adored her.' Fitzgerald, a loving son and brother to two sisters, called family after the first plane hit the north tower to tell them he was OK and about to leave his office, according to a NewsDay report. The oldest of three children, he had just moved into Manhattan and spent the summer at a bachelor party in Las Vegas, buying new clothes at Banana Republic and gifts for his girlfriend and enjoying the familiar restaurants downtown, his mother told the New York Times in November 2001. 'It made me feel good that he enjoyed the summer because it was the last summer of his life,' mother Diane Parks said at the time. Fitzgerald's identity was confirmed through remains recovered in 2002 while Keating's ID and the third undisclosed victim were linked to remains found in 2011, the medical examiner's office said. 'The pain of losing a loved one in the September 11th terror attacks echoes across the decades, but with these three new identifications, we take a step forward in comforting the family members still aching from that day,' Mayor Eric Adams said in a statement. 'As a former law enforcement officer who served our city on 9/11, I understand deeply the feeling of loss so many families have experienced. We hope the families receiving answers from the Office of Chief Medical Examiner can take solace in the city's tireless dedication to this mission.' Big Apple officials said about 1,100 victims, which amounts to 40 per cent of those who perished in the sickening attack, have yet to be officially identified. Chief Medical Examiner Dr. Jason Graham vowed to continue to work on identifying 9/11 victims. 'Each new identification testifies to the promise of science and sustained outreach to families despite the passage of time,' he said in a statement. 'We continue this work as our way of honouring the lost.'
Telegraph
5 days ago
- Telegraph
Three more victims of 9/11 identified by DNA
Three more victims of the 9/11 attacks have been identified using DNA analysis. Officials in New York City named the individuals as Ryan Fitzgerald of Floral Park, New York, and Barbara Keating of Palm Springs, California. Another individual, an adult woman, was identified also but her details were withheld at the request of her family. News that the 1,651st, 1,652nd and 1,653rd victims have been positively identified 24 years after the Al-Qaeda attacks on New York and Washington DC, highlighted the fact that a little more than half of the 2,753 people killed that day have not been. 'The pain of losing a loved one in the September 11th terror attacks echoes across the decades, but with these three new identifications, we take a step forward in comforting the family members still aching from that day,' said Mayor Eric Adams. He added: 'As a former law enforcement officer who served our city on 9/11, I understand deeply the feeling of loss so many families have experienced. We hope the families receiving answers from the Office of Chief Medical Examiner can take solace in the city's tireless dedication to this mission.' New York media said Fitzgerald, 26, was working as a currency trader at Fiduciary Trust International in the south tower of the World Trade Centre. Fitzgerald's mother, Diane Parks, said he had recently moved to New York City. When she saw his credit card bill after his death, she realised he had been enjoying his new-found independence, buying clothes at Banana Republic and presents for his girlfriend. In an article by the New York Times, Ms Parks said he had told her of his intention to attend a friend's bachelor party in Las Vegas. She said that at the time, she advised him against it, but she was glad he went. ''It made me feel good that he enjoyed the summer because it was the last summer of his life,' she said. Keating, who was aged 72 and a grandmother, was onboard the American Airlines Flight 11 that left Boston and was due to head to Los Angeles when the jet was seized by the hijackers. After her death, Paul Keating, one of her five sons, said in an obituary she was 'smart, tough, professional and funny'. Keating spent more than 25 years in public service, much of it with the non-profit Big Brothers Big Sisters of South Middlesex, outside of Boston. Her family said she had been widowed 20 years before she lost her life and had divided her time between Cape Cod, Mass and California. In Palm Springs, she drove a red convertible and attended church every day. 'Nearly 25 years after the disaster at the World Trade Center, our commitment to identify the missing and return them to their loved ones stands as strong as ever,' Chief Medical Examiner Ryan Graham said. 'Each new identification testifies to the promise of science and sustained outreach to families despite the passage of time. We continue this work as our way of honouring the lost.' Sharon Premoli, a 9/11 survivor who was on the 80th floor of the north tower, told The Telegraph that identifying victims was important because it gives families closure. 'While I did not lose a family member on 9/11, I know from having spoken to some who have yet to get a definitive identification, that to them, their loved one has disappeared,' Ms Premoli said. 'That disappearance has to exacerbate a grief that may never subside. Losing a child, a spouse or partner, or a sibling with no remains prevents any kind of closure.'
Yahoo
22-03-2025
- Business
- Yahoo
High-net worth families are racing against the clock to shield their wealth before the estate tax increases
The wealthiest people in the U.S. could see major tax hikes next year, sending high-net worth clients to financial planning offices around the country to try to get around them, their money managers say. Next year, the estate tax exemption, which was generously increased under the Trump administration, could be halved. That's a result of the possible sunsetting of many of the individual tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA), which are currently scheduled to expire at the end of 2025. The federal estate tax is a tax of up to 40% on property transferred from a deceased person to their heirs. It applies only to very wealthiest estates—currently, only those valued at least $13.6 million need to worry about it, and they pay tax on the portion of the estate's value over that exemption level. That's less than 0.1% of returns filed each year. If the TCJA provisions sunset—it's possible that Congress could step in and extend it—some wealthy families in the U.S. could see "a significant tax hike," says Nita Vyas, trust counsel and managing director at Fiduciary Trust International. The exemption level will fall to around $7 million (and double that for couples) in 2026. "This is the number one issue that's looming large in peoples' minds," says Vyas. "For our high-net worth clients, it takes some thought to implement whatever it is you're going to do." In the U.S., there's no shortage of moves high-net worth individuals and families can make to avoid taxes. Gifting is one of the biggest avenues: Anyone can gift up to $19,000 per year tax-free to anyone else without it counting against their lifetime gift exclusion, and married couples can gift double that. That can significantly lower a wealthy person's taxable estate: If a married couple gifts the maximum to three children and six grandchildren this year, for example, that's $342,000 that comes out of their estate tax-free. That same couple would still be able to gift an additional $27.22 million tax-free under the lifetime gift tax exemption. "The gifting, if you can afford to it, is a net positive," says Vyas. "If you can afford to give $14 million to your children and you live another 30 years, the entire appreciation on that $14 million is also out of your estate." They can also set up irrevocable trusts for dependents and descendants, as well as real estate trusts to get their estate tax bills down. That said, Bob Peterson, senior wealth advisor at Crescent Grove Advisors, says most of his clients aren't actually making the moves just yet—they're waiting to see whether or not the tax cuts will actually expire. It's difficult for many to give up control of their assets because of a theoretical tax hike, even if their children are benefitting (once an irrevocable trust is established, for example, the assets are removed from the person's estate and they no longer own them). So many high net worth individuals are taking their time. "We're in the wait-and-see stage right now," says Peterson. "The last 90 days of 2025, everyone will want to seriously consider starting to do it." President Joe Biden proposed keeping the tax cuts for those earning less than $400,000 per year, and supported higher taxes on wealthier households as well as businesses, whereas Republicans generally support making the cuts permanent. Trump has said he wants to extend the cuts—or even make them deeper—but the legislation to do so has yet to be introduced. A version of this story originally published on on Jan. 14, 2024. More on taxes: Republicans plan to use 'weird accounting' to pass $4 trillion in tax cuts Congress wants to kill two education tax credits and that would cost American students billions Can you pay your taxes with a credit card? This story was originally featured on
Bloomberg
07-03-2025
- Business
- Bloomberg
Bloomberg Daybreak Asia: BofA CEO Brian Moynihan
On today's episode, we get reaction to US President Donald Trump exempting Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US's two largest trading partners. Bank of America CEO Brian Moynihan speaks exclusively to Bloomberg's Shery Ahn in Tokyo. Plus - a conversation with Carin Pai, Executive Vice President and Head of Portfolio Management at Fiduciary Trust International.
