Pssst - Billionaires!
So you signed that giving pledge? Let me show you how you can give away a spare billion to charity, starting now, avoid estate and gift taxes, and get your heirs more than you have now, so they can build a family dynasty that will last for many years. Say you put $1 billion into a charitable lead trust paying 6.5% a year to charities of your choice or maybe a family foundation. After 20 years, assuming the assets inside your lead trust grow at 7%, your heirs will receive, free of estate and gift tax, $1.2 billion. Your family foundation, if it is the charitable beneficiary, will have received about the same. Now, your family controls all the money. The little people can support our foreign wars, pay off the deficit, eat dirt, and die. Your family will have it all! What is not to like? The little people will throw roses when you pass. And they get no say where your family foundation makes its grants! Good?
Be advised: Neither Gift Hub nor its corporate sponsor, Wealth Bondage, nor the commenters on this site, nor the staff and management of Wealth Bondage, provide tax, legal, or financial advice. The concept outlined above requires that you consult your own qualified tax and legal advisor. You likely cannot control both the CLT and the grantmaking of the Foundation personally. Be aware that Phil Cubeta's practice is conducted out of a dumpster, behind Wealth Bondage, abutting the public square, and is limited to the unlicensed practice of the liberal arts on his own time, while heavily intoxicated, and often dizzy from hunger. While his intention is to reform your morals, pro bono publico, outcomes in actual cases vary. No successes have yet been reported. None are to be reasonably expected short of divine intervention. You remain responsible for your own moral development. Phil expressly disclaims any responsibilty for financial, aesthetic, moral, political, ecological, spiritual, or legal harm done by his ideas or your own actions. For your own moral health, please consult the spiritual advisor of your choice within the moral tradition that is right for you.