Which One - An Estate Plan or a Wealth Transfer Plan? Which One Can Potentially Eliminate Estate Tax

By Mark Teruya
Wednesday - September 12, 2007

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This is the final part in a two-part series on estate and wealth transfer planning.

All in all, there are 23 w e a l t h transfer strategies (and an endless number of combinations and variations). These strategies, when used to build an overall tax plan, answer the three basic questions that have been asked by my clients, seminar audiences and readers of this column over the years: (1) “Mark, how do we [me and my spouse] maintain our lifestyle for life?” (2) “How do I maintain control of my business for life?” (3) “How do I get ALL of my wealth—intact—to my family without any reduction for taxes?”

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For many years, I’ve thought of doing a seminar that answers these questions. Of course, the seminar would be about wealth transfer…the core subject of my seminars. Well, IT’S DONE! And the title is (a drum roll please) “6 Common Estate and Tax Planning Mistakes” seminar.

The seminar introduces a unique and highly organized system that is not designed to beat the estate tax (the wrong ball). Instead, the system focuses on your wealth (the right ball). The seminar teaches you how to use the system and the 23 strategies to pass your entire wealth (or even increase the amount of wealth) to your family without any reduction for taxes or other costs.

Here’s a sample of what you’ll learn, via the strategies, (1) why your qualified plan [profit sharing, 401(k), IRA] may be a tax trap if you are in the highest tax brackets (the IRS gets 75 percent—or more, your family only 25 percent) and how you may be able to use the IRS code to legally transfer your entire wealth (your family gets 100 percent); (2) how to create a private retirement plan, that creates tax-free dollars for your retirement; (3) how to eliminate the capital gains tax; and (4) how to give significant amounts to charity, with very little or no out of pocket expense or cost to you, or your family.

Think of the strategies and the system (designed especially for the owner of a closely held business) as the bricks, mortar, lumber and other material used by a skilled architect to build a solid house (in this case a solid wealth transfer plan).

You owe it to yourself, your family and your business: Review your current estate plan. If your family will not receive every dollar of your wealth, there is truly a way to get the job done. Legally and easily. Here are three ways to get the same help and knowledge as the 112 seminar attendees: (1) Go to the seminar. In effect, it gives you a second opinion on your current estate plan. Or it shows you how to start from scratch and create a wealth transfer plan for you, your family and your business. Whether you are young or old. Single or married. Insurable or not. Want a copy of the unique and only free report that shows you -step-bystep-how to keep your wealth intact for your family, instead of losing it to the IRS? Ask for our free “Personal Money Master Report”. (2) Check out my website www.usawealthresources.com. It’s free. (3) Or if your tax pain is overwhelming you, call me directly at 808-791-6822.