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The Power of Leveraging the Charitable Remainder Trust: Your Secret Weapon Against the War on Wealth

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The Power of Leveraging the Charitable Remainder Trust: Your Secret Weapon Against the War on Wealth

Daniel Nigito

ISBN: 978-0-470-55709-9 September 2009 304 Pages

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Description

A practical guide to avoiding accidental philanthropy and controlling your tax destiny

Written by Daniel Nigito-a financial services expert whose programs have saved families millions in tax dollars and created millions more for charities across the United States-this timely guide will show you how to use the simple, yet powerful strategy known as "charitable leverage" to regain control of your financial life.

This proven approach, which allows you to become a partner with charity while gaining control over your tax destiny and providing for you and your family, taps into the unique tax characteristics of two financial instruments-the Charitable Remainder Trust (CRT) and Cash Value Life Insurance (CVLI)-in order to achieve some amazing goals.

  • Offers insights on increasing your current income while paying less tax on it
  • Discusses how to develop real asset protection without moving your money offshore or using complicated and often questionable tax schemes
  • Details how you can build a personal tax-deductible retirement account that does not interfere with other retirement plans

The best way to avoid becoming an accidental philanthropist is by understanding how to make taxes work for you. The Power of Leveraging the Charitable Remainder Trust will show you how to do this and, in the process, add meaning to your money.

Acknowledgments ix

Disclaimer xi

Introduction: Is this the Change You Can Believe In? xiii

Part I Welcome to the War on Wealth

Chapter 1 The Weapons of Mass Destruction in the War on Wealth 3

Chapter 2 Accidental Philanthropy—Adding Insult to Injury 17

Part II The Road to Wealth is Paved with Charitable Intentions

Chapter 3 How to Fight Back Against the War On Wealth 25

Chapter 4 Unleashing the Power of Charitable Leverage 31

Chapter 5 The First Component to Charitable Leverage—The Charitable Remainder Trust 37

Chapter 6 The Second Component to Charitable Leverage—The Cash Value Life Insurance Contract 63

Chapter 7 Blowing Up the Paradigms 85

Chapter 8 Your Battle Plan for Fighting Back Against the War on Wealth 99

Chapter 9 Why It Works 121

Part III War Stories from the Battlefield

Chapter 10 How to Use Charitable Leverage to Build a Personal Supplemental Retirement Plan 141

Chapter 11 Charitably Leveraged Supplemental Retirement Plan for the Bold and Beautiful 149

Chapter 12 Charitably Leveraged Supplemental Retirement Plan for the Young and Restless 171

Chapter 13 Charitably Leveraged Supplemental Retirement Plan for the Old and Cranky 191

Chapter 14 How to Use Charitable Leverage to Fund the Grandparents’ Legacy 201

Chapter 15 A Grandparents’ Legacy War Story and Comparison 215

Chapter 16 How Businesses Can Use Charitable Leverage to Attract and Retain Key Employees 239

Chapter 17 Can Charitable Leverage Save Your IRA? 261

Epilogue 275

About the Author 277

Index 279