Tax Planning for Zero Estate Taxes

It doesn’t make much sense to work for portfolio gains and then give them up on your tax filing.

From the blog


The Tale Of Two Kings


This King’s Assets
Organization Was
Fit For A Pauper…

When the “king” of rock ‘n’ roll died in August, 1977, his estate was valued at more than US$10 million. But the story doesn’t end there…

Unfortunately, Elvis Presley’s will wound up going through probate, and it took three years for the lawyers to work things out in court. Finally, the court ruled that the estate should pass to his only daughter, Lisa Marie.

But Lisa Marie Presley wasn’t going to walk away with US$10 million. Between taxes and legal fees Elvis’s estate was reduced to just US$3 million.

Yes, 70% went straight to the taxman and the lawyers, while his daughter was left with just 30 cents on the dollar.

The second king was the Oil King, H.L. Hunt, and his story has a far-different ending. Just prior to his death in 1974, Hunt’s net worth was an estimated at US$2 billion… that’s about US$7.6 billion in 2013 dollars.

But fortunately, this king was better prepared. He had carefully distributed his assets into all sorts of legal structures–funds, trusts, life insurance…you name it.

After his death, the only asset that could be linked to H.L. Hunt was a pick-up truck worth US$2,000; hardly worthy of a courtroom battle. His fortune remained intact.

Frankly, this story reflects your two estate-planning options: preserve it, or give much of it away.

The moral of the story is this: Only you have control over your wealth. You—not the government, creditors, litigants, or the banks—get to decide what happens to your assets, now and in the future.

Your tax planning can start today. Email or call Jack direct at 604-858-3202 ( same time zone as Los Angeles


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