3 doors of Estate Planning

• Door #1: Family
• Door #2: Charity
• Door #3: IRS

Everyone will need to choose 2 doors to which they will work their Estate Plan through.  If you choose 1 door, the other door will be automatically chosen for you, typically that door is the IRS.

Benefits of Revocable Living Trusts

1. Avoids Probate

• Cost
• Time Delays
• Publicity
• Problems with property in multiple states
• Contest

2. Incapacitation

• Protects your wishes without court intervention

3. Saves on Estate Taxes

• Preserves both spouses' exemptions via A/B Trusts
• GST Planning

4. Allows you to Protect your heirs

Things to think about:

1. Does the current tax system best represent your value system?
2. What if you could decide where your social capital goes?
3. In what organizations would you invest your social capital?

What would your choice be?

• Your Church or Synagogue?
• American Cancer Society? 
• The American Red Cross? 
• Special Olympics?
• Scholarships?
• Health Research?
• Your Own Foundation?

Charitable Remainder Trusts

•   Avoid capital gains tax on sale
•   Eliminate estate taxes
•   Diversify your assets - tax free
•   Receive more income
•   Leave more to your heirs
•   Get an income tax deduction, and 
•   Leave millions to your foundation   

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