Estate Planning as a Career

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How would you like to create a foundation that will be remembered year after year after year…for generations? You will literally be able to reach beyond the grave and continue to leave your mark on the world! Become the next Rockefeller. Even in his death, his family name has lived for generations. You too can create that kind of legacy!

Create a family foundation income trust

Let’s say you purchased a piece of land that was worth $500K. Over several years, it’s accumulated worth is now $1 million. Someone wants to buy it and you are willing to sell.

Now, if you sell it through your business, you stand to pay some serious capital gains*. But, before you decide to sell, create a trust and sell your asset(s) through your trust. Now, instead of making just $600K after taxes, you get the entire $1 million which sits in your trust. You have now created a family foundation.

Okay, now what?

Insure your trust! You have a million dollar trust fund that you want to last for generations. Purchase a $1 million life insurance policy. Now you pay for the policy through your business which is a tax-deduction*. In addition, you also have tax-free annual income*.

Now, your family wants to know what happens to them, right? When you die, your family gets at least $1 million tax free insurance and every year you can make a healthy donation to the organization(s) of your choice*.

*Talk to your tax advisor and attorney.

Useful Links:

move house, change address, buy a plushy indulgent sofa, treat yourself to some gorgeous designer jewellery, put on that sexy Gucci dress and impress him with your amazing culinary skills with a little help from online cookbooks. All in a day's work.

This entry was posted on Thursday, December 13th, 2007 at 10:37 am and is filed under , Estates, Wills, Trusts, Career Information, Blog Carnival. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.