Monday, June 19, 2017

For-Profit / Non-Profit Partnership Real Real Estate Tax and Estate Planning Strategy


Hello everyone,

I was contacted by a guy who is new to the Real Estate speaking circuit who will be driving out to our meeting to give us an interesting presentation. 

Alan Bardwell, of Irvington Sweetwater LLC, will be talking to the group about a tax / estate planning strategy that he is an expert in putting together. This strategy is for sellers of assets that appreciated, such as real estate, who would like to avoid 99% of capital gains and have immediate access to 100% of the sale proceeds without having to do a 1031 exchange to do so. With this strategy you also have no deadline or requirement for a subsequent asset purchase as you would have with a 1031 exchange. 

This technique includes your for profit company partnering with a non profit company which he says will make you exempt from 99% of capital gains taxes. An added benefit is you will retain control of the assets and activities of the partnership within your family from generation to generation without incurring inheritance or estate taxes.

I’m wondering if Alan is taking about setting up a Foundation to do so. I have been told that Foundations are the tool of the wealthy as you can transfer several million dollars to a Foundation every year and not pay a dime of taxes on any of the money you use to do so. All a Foundation requires is that you use those assets some time during the year for a cause. Such as owning a mega yacht that you take disabled kids out once in a while on a fishing trip. Who knows... I’ve been looking forward to this upcoming presentation by Allen.

Cancel your plans if you have any as there just may be that nugget of information you need in this meeting to knock it out of the park. 

See you there!

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