Law Offices - Kenneth D. Sisco, Attorney - Personal Information
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Last Updated: July 1, 2007 E-Mail -- protect@action-assetprotection-services.com
OFFSHORE PLANNING SEMINAR -- Intensive examination of offshore planning and Asset Protection Techniques. DETAILS
CLICK HERE for The Ultimate Asset Protection Tool The ultimate strategy for utilizing foreign trusts, foreign corporations, private annuities, limited partnerships and more.Reduced Fees for Foreign Planning -- If you are interested in Foreign Trusts, Foreign Corporations, or foreign planning and strategies in general, and you are in a position to take action before August 6, 2007, you will be pleased to note that I am prepared to offer substantial fee reductions for foreign planning prior to that date. Please see Announcement |
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CHECKLIST FOR SPECIFIC ASSET PROTECTIONAND ESTATE PLANNING ISSUESOther pages on this site provide you with quite detailed information on general asset protection and estate planning concepts. For example, almost anyone, with any estate at all, can benefit from a Revocable living trust, to avoid probate and reduce estate taxes. Likewise, almost anyone, with any estate at all, can benefit from a Family Limited Partnership, to protect assets, and reduce taxes. If you desire a little more sophistication, you can avoid capital gains taxes, obtain an income tax deduction, and secure an income stream for the rest of your life, by utilization of a Charitable Remainder Trust. If you set up your own private foundation to be the remainder beneficiary of that Charitable Remainder Trust, you can provide your children with a lifetime source of income, as well. But there are a number of specific issues that do not apply to most individuals. Indeed, you may fall into one or more of these categories and not even know that there are opportunities for profitable planning. Remember, Income taxes are mandatory. We can scrape around and look for every available deduction, but in most cases we will owe some income tax. Capital Gains Taxes and Estate Taxes are optional. If you pay them, it is a result of your failure to plan. Scenario One: You own a business worth several million dollars (or less). You are several years away from passing on, or even retirement. Eventually, you want the business to go to your children. Transfer that business to your children, tax free, while maintaining one hundred (100%) percent control. Scenario Two: You want to sell a business worth several million dollars (or less); let’s say $5 million. If you sell the business for $5 million, you will likely realize approximately $3.5 million, after taxes. You are several years away from passing on, or even retirement. Sell that business, tax free, and realize actual benefit in an amount in excess of $10 million. Scenario Three: You want to buy a business worth several million dollars (or less); let’s say $5 million. Buy that business, for $3 million, plus a tax deductable annual payment of $350,000, for ten years (Total of $4.75 million, with the $1.75 million spread over ten years.) Scenario Four: You own income producing real estate, worth several million dollars (or less). You are several years away from passing on, or even retirement. Eventually, you want the real estate to go to your children. Transfer that real estate to your children, tax free, while maintaining one hundred (100%) percent control. Scenario Five: You own a residence, worth several million dollars (or less). You are several years away from passing on, or even retirement. Eventually, you want the residence to go to your children. Transfer that residence to your children, tax free, while maintaining one hundred (100%) percent control. Copyright; 2004 Kenneth D. Sisco. All rights reserved. |
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