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The Power of Leveraging the Charitable Remainder Trust

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A practical guide to avoiding accidental philanthropy and controlling your tax destinyWritten by Daniel Nigito-a financial service... Weiterlesen
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Beschreibung

A practical guide to avoiding accidental philanthropy and controlling your tax destiny

Written by Daniel Nigito-a financial services expert whose programs have saved families millions in tax dollars and created millions more for charities across the United States-this timely guide will show you how to use the simple, yet powerful strategy known as 'charitable leverage' to regain control of your financial life.

This proven approach, which allows you to become a partner with charity while gaining control over your tax destiny and providing for you and your family, taps into the unique tax characteristics of two financial instruments-the Charitable Remainder Trust (CRT) and Cash Value Life Insurance (CVLI)-in order to achieve some amazing goals.

  • Offers insights on increasing your current income while paying less tax on it
  • Discusses how to develop real asset protection without moving your money offshore or using complicated and often questionable tax schemes
  • Details how you can build a personal tax-deductible retirement account that does not interfere with other retirement plans

The best way to avoid becoming an accidental philanthropist is by understanding how to make taxes work for you. The Power of Leveraging the Charitable Remainder Trust will show you how to do this and, in the process, add meaning to your money.

Daniel G. Nigito is the Chairman and CEO of Market Street Financial Advisors, LLC, and its subsidiary, Market Street Philanthropic Advisors, Inc. The combined mission of the two companies is to 'provide wealth management for people who want to add meaning to their money.' The company specializes in using charitable remainder trusts and family foundations to provide strategies for wealth accumulation, preservation, and transfer for private clients and their families. He is the author of two previous books, Avoiding the Estate Tax Trap and Don't Die Until You Read This! To learn more about Dan and avoiding accidental philanthropy, visit www.Nigito.com.

Autorentext
DANIEL G. NIGITO is the Chairman and CEO of Market Street Financial Advisors, LLC, and its subsidiary, Market Street Philanthropic Advisors, Inc. The combined mission of the two companies is to "provide wealth management for people who want to add meaning to their money." The company specializes in using charitable remainder trusts and family foundations to provide strategies for wealth accumulation, preservation, and transfer for private clients and their families. He is the author of two previous books, Avoiding the Estate Tax Trap and Don't Die Until You Read This! To learn more about Dan and avoiding accidental philanthropy, visit www.Nigito.com.

Klappentext

Are you an Accidental Philanthropist?

The current state of our tax system penalizes those who work the hardest, take the risks, and actually buy into capitalism and free markets. This severely flawed system, which taxes the same dollar up to five times, is going to get worse in the years ahead. The result of this situation makes many of us accidental philanthropistswherein the U.S. Congress redistributes the taxes you pay, without you having a say as to where that money goes.

While our government continues to wage its "war on wealth," there is a way in which you can fight back. And with The Power of Leveraging the Charitable Remainder Trust, author Daniel Nigitowhose programs have saved families millions in tax dollars and created millions more for charities across the United Stateswill show you how.

The simple, yet powerful strategy outlined here, known as charitable leverage, allows you to become a partner with charity while gaining control over your tax destiny and providing for you and your family. Based on two financial instrumentsthe Charitable Remainder Trust (CRT) and Cash Value Life Insurance (CVLI)that are rooted in our tax code and have been hiding in front of us for decades, Nigito's new type of wealth management reveals how inverting the way these two tools are normally used can produce some amazing results for both individuals and charities.

Divided into three comprehensive partsIs This the Change You Can Believe In?, The Road to Wealth Is Paved with Charitable Intentions, and War Stories from the Battlefieldthis reliable resource:

  • Reveals how the current tax structure and redistribution of wealth can easily make you an accidental philanthropist
  • Breaks down the mechanics of charitable leverage, so you can clearly see how it works
  • Discusses how you can apply a charitably leveraged strategy in specific everyday financial planning scenarios
  • Follows each planning strategy with a case study that plugs in real numbers and then compares it with its traditional and "accidentally philanthropic" alternative

Charitable leverage, while not for everyone, is remarkably simple and produces some amazing results. With it, you can build alternative methods for the accumulation of wealth without tax, while fueling your favorite charities with dollars that might otherwise be lost to the whims of Congress. You can also use this technique in supplemental retirement plans, grandparent gifting plans, and employer-sponsored key executive deferred income plans. Whatever your goal, the insights and advice found in The Power of Leveraging the Charitable Remainder Trust can help you achieve them.

Inhalt

Acknowledgments ix

Disclaimer xi

Introduction: Is this the Change You Can Believe In? xiii

Part I Welcome to the War on Wealth

Chapter 1 The Weapons of Mass Destruction in the War on Wealth 3

Chapter 2 Accidental PhilanthropyAdding Insult to Injury 17

Part II The Road to Wealth Is Paved with Charitable Intentions

Chapter 3 How to Fight Back Against the War On Wealth 25

Chapter 4 Unleashing the Power of Charitable Leverage 31

Chapter 5 The First Component to Charitable LeverageThe Charitable Remainder Trust 37

Chapter 6 The Second Component to Charitable LeverageThe Cash Value Life Insurance Contract 63

Chapter 7 Blowing Up the Paradigms 85

Chapter 8 Your Battle Plan for Fighting Back Against the War on Wealth 99

Chapter 9 Why It Works 121

Part III War Stories from the Battlefield

Chapter 10 How to Use Charitable Leverage to Build a Personal Supplemental Retirement Plan 141

Chapter 11 Charitably Leveraged Supplemental Retirement Plan for the Bold and Beautiful 149

Chapter 12 Charitably Leveraged Supplemental Retirement Plan for the Young and Restless 171

Chapter 13 Charitably Leveraged Supplemental Retirement Plan for the Old and Cranky 191

Chapter 14 How to Use Charitable Leverage to Fund the Grandparents' Legacy 201

Chapter 15 A Grandparents' Legacy War Story and Comparison 215

Chapter 16 How Businesses Can Use Charitable Leverage to Attract and Retain Key Employees 239

Chapter 17 Can Charitable Leverage Save Your IRA? 261

Epilogue 275

About the Author 277

Index 279

Produktinformationen

Titel: The Power of Leveraging the Charitable Remainder Trust
Untertitel: Your Secret Weapon Against the War on Wealth
Autor:
EAN: 9780470557075
ISBN: 978-0-470-55707-5
Digitaler Kopierschutz: Adobe-DRM
Format: E-Book (pdf)
Herausgeber: Wiley
Genre: Recht, Beruf, Finanzen
Anzahl Seiten: 288
Veröffentlichung: 11.09.2009
Jahr: 2009
Untertitel: Englisch
Dateigrösse: 3.6 MB
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