One of mankind's greatest qualities is working together, to specialize and share fruits. But this pinnacle of our humanity also creates the need for tax, a part of this noble idea, that is rarely, honorably carried out. This could never be more true than with the new U.S. tax rebate, a political mishmash if there ever was one.
President Bush campaigned on repealing the estate tax and wanted to be seen keeping his promise. All the politicians have harped for years about simplifying tax.
This latest tax legislation had so much momentum that this was the government's chance to clean things up, make the tax system easier, more dependable and efficient.
Instead they could not have made things worse. This law is the Lawyers Relief act rather than estate relief. Several of the problems include:
#1: The law does not take full effect for ten years.
#2: The law ends in eleven years.
#3: The estate tax rate is different every year over the next ten years so no one can accurately predict the potential of their tax (unless they can choose the year in which they die)! Plus after 2010, a capital gains tax will replace the repealed estate tax (which in fact may not be repealed after 2010 at all).
Over the last several years one of my friends, one of the best estate tax planning attorneys I know has been looking at other types of law such was his concern that estate tax attorneys would no longer be needed. He now is assured job security for at least another ten years.
With this thought in mind, I am conducting a special course here at the farm, Friday Saturday and Sunday, August 3th, 4th and 5th with tax and estate planning specialist Joe Cox. The course is entitled “Partners in Wealth” and eClub advisor Joe Cox and his wife Justyna will join me in conducting the course.
This course will be divided into two sections, one on reducing and deferring tax and asset protection and the other on reducing the risk of loss of wealth through divorce and bad partnerships.
Sessions will include:
The New estate Tax Law. How to react, what to do in face of the new law. New strategies for surviving the uncertainty. If oyu cannot join us look for more details on this from Joe Cox at email@example.com
How to Defer Tax. Learn how to gain tax deferral and asset protection with overseas insurance policies that create the ultimate tax loophole. These policies are 1000% legal and can add total privacy to your wealth, plus defer tax for decades as they keep creditors at bay as well. Find out which countries offer the policies, how to choose the good from the bad and when they make sense and not.
* Investing Pensions, Keoghs and IRAS Abroad. The first delegate using this system, saw her tax deferred IRA (under Scottish management) rise 14.5% in one month!Learn more on this now from eClub advisor Larry Grossman firstname.lastname@example.org
* Circle of 100-How to Raise Money Abroad, Make the World a Better Place and Eliminate Tax at the Same Time. Have your own international business! At the July and August course I'll share my first hand experiences of raising money for totally tax free-business or charitable companies you've formed. Link to information about International Business Made EZ
* The Last Loophole. Learn a tax shelter so effective it can wipe out tax forever yet so legal, it may never be changed! How and when to use FIVE INTERNATIONAL STRUCTURES for lawsuit and tax protection- bank accounts, mutual funds, insurance policies, trusts and companies.
* The Unusual Centers. Tax law and the way to use financial centers has changed dramatically in the last several years. We will review how the financial centers have now changed and look at onshore jurisdictions with offshore benefits that give an unusual edge. Find out which are the best legal financial centers and how they may be of value to your asset protection planning. For more information go to email@example.com
I hope to see you here this August in the cool North Carolina mountains!