Listen up: A ton of estate planning, business succession and tax-free wealth creation knowledge is about to come your way. You’ll also learn about wealth transfer, asset protection and life insurance. And it’s all in one place.
But first, let’s back up a bit to tell you about the source of the above fountain of knowledge. I’ve been writing this column for 35 years. During that time, I’ve written hundreds of articles, dozens of special reports and a score of books, all about taxes and the six subjects listed in the first paragraph of this column (and related topics). I literally have a small mountain of stuff. Most of it is updated and current.
I get phone calls, letters, faxes and e-mails from readers of this column on a regular basis. These readers have all kinds of questions and unsolved problems, usually dealing with one or more of the six subjects mentioned above. In almost every case, the answer or solution is somewhere in my stuff.
By now you probably know where this column is going . . . to the World Wide Web; to www.taxsecretsofthewealthy.com (my Web site), to be precise. The site has a ton (maybe more) of my stuff.
Actually, my Web site is 5 years old. But I have a new Web master who is a practical visionary. Now the Web site guides you to where you want to go, quickly and easily. There is even a section that approaches your planning questions and problems based on the size of your wealth: from the “little guy” (with no estate tax liability) to the billionaire, with four categories, based-on the amount of your wealth, in between. A whole area is dedicated to professionals, telling them what to do and how to help their clients.
In general, the site is designed to answer the most frequently asked questions and solve the most commonly posed problems. There is also some material that comes up rarely, but can save or make you millions of dollars.
Below is a sample of what you’ll learn. 1. How to legally beat the estate tax. 2. How to control your assets—including your business—for as long as you live, yet remove them from your estate. 3. How to transfer your business to your kids, tax-free. 4. How to avoid being double taxed on your profit-sharing plan, 401(k) or other qualified plan. 5. How to protect your assets from creditors, lawsuits and ex in-laws. 6. Why the wealthy buy so much life insurance. 7. How to give money to charity and make a profit.
Now I need your feedback. What do you like or dislike about the site? How can it be improved? What’s missing? Browse www.taxsecretsofthewealthy.com and tell others to do the same. Then send me an e-mail (at the address listed above) with your feedback. Of course, you may have your own questions or problems; put them in your e-mail. And please don’t forget your phone numbers (work, home and cell). My typing skills are awful, so I would rather talk than type.