http://hubpages.com/hub/How-to-Protect-Your-Assets-With-a-Foundation-Just-Like-Billionaires-Gates-Buffet
Starting Your Own Charitable Foundation Donating to a foundation is one legal way to protect wealth for descendants. Assets transferred into a foundation are immune to capital gains taxes, plus the donator still gets a tax deduction for the contribution. Additionally, the charity receives more money than if the donator sold assets, paid the taxes, and donated the remainder. This may come as a surprise to some—that anyone, not just the super rich like Bill Gates and Warren Buffet--can set up a trust and/or foundation very inexpensively by doing all the research and drafting their own documents. There are many sources that provide templates. If your situation is straightforward, all you have to do is fill in the blanks. For those with more involved situations an experienced attorney is recommended. Even if you do it yourself, it’s not a bad idea to have an attorney review it. The final step is transferring your assets into the foundation or trust, otherwise all your hard work is for naught. _______________________________________________ Marxism-Thaxis mailing list [email protected] To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
