Law And Tax Hotline


The workshop covers the following topics:

  1. Leveraging legal entities: Inc, LLCs, Wills, Trusts, and Foundations

  2. Tax reduction strategies: Income tax, capital gains tax, estate tax, gift tax, and inheritance tax

  3. Estate planning: Using Wills, Trusts, and Foundations to preserve and transfer wealth

  4. Philanthropic Estate Plan™: A structured approach to implementing these strategies

  5. Practical Problem Solving: Asset protection, wealth preservation and transfer, and charitable giving

Get Your Burning Questions, Answered

Here are some examples of topics we cover in the workshop

What exactly is estate planning, and why is it important for someone like me?   

What you do now impacts your loved ones are your death - and the legal entities that you setup and leverage today will determine how assets are passed to the next generation during and after your death - it's all interconnected.

Estate planning is the process of "organizing, arranging, and strategically gifting" assets for the management and distribution of your assets after your death, in a way that reflects your wishes, protects your loved ones, and ensures you minimize all sorts of taxes that are involved in this "strategic transfer" of wealth.

I already have a will – isn't that enough?

Although a will plays a crucial role in estate planning, it alone may not offer the comprehensive safeguards and versatility you require. A will only takes effect after your passing and must undergo probate, a public process that can be time-consuming, costly, and open to scrutiny.

Conversely, a meticulously constructed estate plan can incorporate diverse instruments and approaches, such as trusts and foundations, enabling you to maintain greater command over your assets and mitigate tax burdens both during your lifetime and thereafter.

I'm interested in giving back to the community – how can I incorporate philanthropy into my estate plan?

Adopting a strategic approach to philanthropy presents a powerful avenue to leave an enduring legacy supporting the causes dear to your heart, while simultaneously optimizing tax advantages for you and your beneficiaries. By instituting a private foundation or donor-advised fund, you can implement a systematic framework for charitable contributions, benefit from immediate tax deductions on your donations, and engage your family in the decision-making process.

Our goal is to help you develop a detailed "Wills, Trusts, and Foundation Roadmap" that allows you to gain a holistic understanding of the entire process - which is essential for sound decision-making.

I've heard about trusts, but I'm not sure how they work or if they're right for me – can you explain?

Trusts are versatile legal tools that can serve a variety of purposes in estate planning, asset protection, and wealth transfer. Essentially, a trust is a legal arrangement in which one party (the grantor) transfers assets to another party (the trustee) to hold and manage for the benefit of a third party (the beneficiary).

Trusts can be used to minimize estate taxes, avoid probate, protect assets from creditors, and provide for the ongoing care and support of loved ones. Attend the free Hotline to learn more about trusts and some of the most popular questions around trust topics - it'll help you understand what's appropriate for your situation and how to go about structuring one or more trusts.

I'm concerned about the impact of taxes on my estate – what strategies are available to minimize tax liabilities?

Tax planning constitutes a pivotal component of estate planning for affluent individuals and those with substantial incomes. Fortunately, a diverse array of strategies exist to mitigate tax liabilities and maximize the value of your estate for your beneficiaries.

These may encompass gifting tactics, charitable contributions, life insurance trusts, and beyond. We have created multiple resources, blogs, videos, and webinars that explain these concepts in more depth, and host a free workshop where participants can ask questions as well.

Solve Real Problems With Confidence

Use legal and tax strategies to solve day-to-day and long-term problems

Scenario 1: You're a successful business owner with significant assets tied up in your company. You're concerned about protecting your wealth and minimizing tax liabilities for yourself and your heirs.

As a successful business owner with substantial company assets, you can develop strategies to protect your wealth and minimize taxes: business succession planning through tax-efficient ownership transfers; trusts like GRATs or IDGTs to transfer interests while saving taxes; and charitable planning with private foundations for deductions and family involvement.

Life insurance, asset protection vehicles like FLPs and complex trusts may also be beneficial.

Scenario 2: You've recently experienced a major life event, such as marriage, divorce, or the birth of a child, and you're unsure how these changes will impact your estate plan.

Significant life events necessitate revisiting your estate plan. For marriages, you can explore updating beneficiary designations, titling of assets, and potential trust structures.

Divorces require revising provisions, protecting separate property, and potentially establishing trusts.

With children, you may need to review guardian nominations, funding trusts for minors, and education planning strategies within your overall estate plan.

Scenario 3: You're nearing retirement age and are thinking about how to transition your business and assets to the next generation while also providing for your own financial security.

As you approach retirement, coordinated planning is key for a smooth business transition and ensuring your financial needs are met. We can explore tax-efficient ownership transfer strategies like intentionally defective grantor trusts or sale to an intentionally defective income trust. In rare situation, even donating a business to a private foundation, "The Paul Newman Way", could even be explored.

Properly structured buy-sell agreements and entity restructuring may facilitate passing your business interests.

Ensure to review your investment portfolio, income streams, and potentially a personal residence trust to support your retirement lifestyle while maximizing wealth transfer.

Scenario 4: You're passionate about giving back to the community and want to establish a legacy of philanthropy, but you're not sure where to start or how to maximize the impact of your charitable contributions.

Creating a strategic philanthropic plan allows you to support causes meaningful to you while maximizing tax benefits. Creating a private foundation or donor-advised fund providing an institutionalized vehicle and immediate tax deductions for contributions.

This enables family members to get engaged in investing and grant-making decisions to instill your values across multiple generations.

Tools like private foundations allow you to seamlessly integrate sophisticated investment strategies with philanthropic work in a structured and methodical manner, generation after generation.

Our mission is to help business owners, investors, and individuals with high-income and net worth strategically invest and donate through their private foundations and become purpose-driven leaders in their communities.

I'm concerned about the impact of taxes on my estate – what strategies are available to minimize tax liabilities?

Mitigating estate tax exposure is crucial for preserving multi-generational wealth.

You can implement tax-efficient wealth transfer strategies like grantor retained annuity trusts (GRATs), intentionally defective grantor trusts (IDGTs), and family limited partnerships (FLPs) to shift future appreciation of assets to beneficiaries tax-free and also explore revocable trusts to circumvent probate proceedings, which can be long, stressful, expensive, and it is a public process (no privacy).

Gifting programs using your lifetime exemption amount and techniques like spousal limited access trusts (SLATs) or "Crummy trusts" that leverage gift law exemptions can further reduce your taxable estate.

Life insurance trusts (ILIT) provide liquidity to cover estate taxes, while strategically removing cash and assets from your estate.

Charitable lead trusts offer potential tax savings while benefiting your chosen causes.

Through meticulous planning, you can develop a customized roadmap minimizing estate taxes and perpetuating your legacy. We recommend enrolling for the free workshop where we discuss how "estate planning and restructuring" ties all these concepts together seamlessly.

Book A Seat At The

Wills, Trusts, And Foundations Workshop™

A Complimentary Service Hosted By Law and Tax Hotline, A Nonprofit Organization On A Mission To Empower Entrepreneurs

Workshop: Friday

120 Mins
Friday: 12pm - 2pm

Select Date & Time


Copyrighted Material © All Rights Reserved. 2024.

Law and Tax Hotline™


The testimonials showcased on this page are authentic accounts from our clients. However, the outcomes depicted here are not typical and should not be construed as guarantees. Your personal results may differ depending on factors such as your skills, experience, level of motivation, and other unpredictable variables. Our company has not conducted comprehensive studies on the results of our average clients. Therefore, your outcomes may vary.