by Dave Duringer | Jan 8, 2017 | Asset Protection, Charity, Estate Planning, Family Protection, Health Planning
This woman is an inspiration, leaving a rich legacy of charity. But note part of the reason she is able to do this: Finances aren’t a worry: A long-term disability policy she invested in provides 70 percent of her wages; Guy Morrison continues to work as a physical...
by Dave Duringer | Jan 6, 2017 | Asset Protection, Charity, Estate Planning, Tax Planning
Interesting speech below on crucial importance of philanthropy, even for national defense:
by Dave Duringer | Jan 2, 2017 | Asset Protection, Charity, Estate Planning, Family Protection, Retirement Planning, Spendthrift Children, Tax Planning
While it’s important that charities and their staff understand how to match various tools, such as charitable remainder trusts (CRTs), charitable lead trusts (CLTs), charitable gift annuities and other gift plans with the needs of their donors, which may...
by Dave Duringer | Jan 2, 2017 | Asset Protection, Charity, Death Tax, Estate Planning, Family Protection, Income Tax, Tax Planning
Wealthy families can now transfer wealth to children and grandchildren at a transfer tax discount of up to 50 percent, while receiving up to a 50 percent current charitable income tax deduction—all while avoiding tax on the subsequent sale of appreciated...
by Dave Duringer | Dec 1, 2016 | Asset Protection, Charity, Estate Planning, Tax Planning
The PF excise tax provision would collapse the current two-tier tax—some pay 2 percent and some pay 1 percent on investment income—to a straight 1 percent tax. Here’s how it goes. PFs are required to pay a 2 percent excise tax on investment income every year....
by Dave Duringer | Nov 4, 2016 | Archived, Asset Protection, Charity, Death Tax, Estate Planning, Gift Tax, Income Tax, Tax Planning
For many clients in the mid-range, we can pretty much take care of the issue in the first paragraph below with Clayton election planning. (HNW clients may benefit from other advanced techniques such as NING trusts.) The issue in the second paragraph below (changes to...
by Dave Duringer | Oct 20, 2016 | Archived, Asset Protection, Charity, Estate Planning, Family Protection
Just 5.7 percent of the Clinton Foundation’s massive 2014 budget actually went to charitable grants, according to the tax-exempt organization’s IRS filings. The rest went to salaries and employee benefits, fundraising and “other expenses.” Source: Clinton Foundation...
by Dave Duringer | Sep 28, 2016 | Charity, Dying Embarrassed, Estate Planning, Horror Stories
Jackie O’s estate plan provided for an elaborate trust that was supposed to have generated funds for a charity and then give her grandchildren an inheritance. But although her estate was initially valued at $200 million, the actual value dropped to about $18 million,...
by Dave Duringer | Sep 26, 2016 | Charity, Estate Planning, Family Protection, Financial Mentorship
You have read at www.SacredHonor.US about the F.I.R.S.T. Family Trust and how it can be used to pass on values such as charity and financial mentorship. Here is an example of both in action: Zak Williams, son of Robin Williams, is co-teaching a financial literacy...
by Dave Duringer | Sep 26, 2016 | Asset Protection, Charity, Estate Planning, Family Protection
Planning professionals need to master the skill of communicating the tax savings from a planning technique in a manner that a potential client can quickly and easily understand. This is particularly true when dealing with charitable giving strategies. Here are some...
by Dave Duringer | Sep 9, 2016 | Charity, Estate Planning, Family Protection
We all need to work on this, whether retired, or building a business or career: How establishing yourself as trusted, active member of your community can help grow your business. Source: Seven Steps to Become a Center of Influence | Wealth Management If attacked, do...
by Dave Duringer | Sep 3, 2016 | Asset Protection, Charity, Death Tax, Estate Planning, Family Protection, Gift Tax, Income Tax, Tax Planning
[slideshare id=56750185&doc=aac527e2-7f52-466b-8109-82432616b858-160106174411] If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And at Protect.FM, we believe good estate plans protect families. We make it...
by Dave Duringer | Aug 4, 2016 | Asset Protection, Charity, Estate Planning
Parthian shot. If a gift is held to be earmarked for an individual, not only does the donor lose the income tax charitable deduction, but also could be subject to the federal (and possibly state) gift tax on transfers to individuals (assuming it exceeds the $14,000...
by Dave Duringer | Aug 3, 2016 | Archived, Asset Protection, Charity, Death Tax, Estate Planning, Gift Tax, Tax Planning
Although the details are significant, the bottom line is that the proposed regulations would appear to eliminate almost all minority (lack of control) discounts for closely held entity interests, including active businesses owned by a family. To accomplish that,...
by Dave Duringer | Jun 28, 2016 | Charity, Estate Planning, Financial Mentorship, Retirement Planning
And as younger collectors focus more on this asset class, their advisors need also to broaden their knowledge of the rules unique to this area and to their clients’ increased activity. Source: Six Characteristics of NextGen Art Collectors If attacked, do you want to...
by Dave Duringer | Jun 8, 2016 | Charity
Issues of control are often significant to the wealth-creating generation of a family (usually, although not always, older members). Often, in working with families, we hear wealth-creators express doubts about the capacity of rising generations to handle money...
by Dave Duringer | May 24, 2016 | Charity
Charitable LLCs A charitable LLC, such as the Initiative or the Emerson Collective (run by Steve Jobs’ widow) is legally no different from a for-profit LLC. As such, it’s governed only by applicable corporate law, whereas a charity would further be subject to state...
by Dave Duringer | May 17, 2016 | Charity, Firearm Legacy
OK — this one’s a hit. If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And at Protect.FM, we believe good estate plans protect families. We make it easy for your family to attain the comfort of...
by Dave Duringer | May 16, 2016 | Charity, Death Tax, Gift Tax, Income Tax, Property Tax, Religious Faith, Tax Planning
Through our work with the Andersons, Pitcairn has seen firsthand how a family can build a lasting philanthropic legacy, and we’ve identified five key traits that contributed to their success. We believe other wealthy families can better achieve their own philanthropic...
by Dave Duringer | Dec 29, 2015 | Archived, Charity, Income Tax
The Protecting Americans From Tax Hikes Act of 2015 (PATH) provides long-awaited certainty for taxpayers that make charitable contributions from IRAs. The new law became effective December 18, 2015. It made permanent the IRA charitable rollover provision that allows...
