Family Private Trust Company Counselors

Asset protection and estate planning for 2011 and 2012

Wow what a surprise.   For the next two years gift and estate planning will be great.  Not only is the gift tax exemption $5,000,000 per American, the discount planning and other "abusive" methods (allowed by the courts) were accepted by Congress. 

Use this next two years to eliminate your estate tax and protect your assets.  Eventually, taxes must pay off the National Debt.  As the boy scouts say "be prepared."

Mexico has black listed most tax haven countries except for the United States. 

Mexicans forming trusts in Nevada can avoid all US income tax on investment income from public stocks and bank accounts. Non-Americans estate tax exemption is only $60,000.  Nevada trusts are the best American estate planning tool.  Here is our article on America, the Worlds Best Tax Haven.

Estate of Samuel P. Black, Jr., Deceased, Samuel P. Black, Iii,Executor, Et Al.,1 Petitioner V. IRS is a big taxpayer estate planning case.  Here is the link to the Tax Court web site.  A family partnership was used to to avoid the estate tax.  However, the tax planners were wise and sold the assets to the family partnership in lieu of a capital contribution.

Other News

A higher percentage lose their wealth as the parents age. Dementia and Alzheimer  effects 50% of adults. Once the kids find out, it is too late to create a  trust (because the parents lack the capacity to enter into a contract).