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> There are many complexities, but one popular technique is to put assets into trusts that allow the returns to accrue for heirs without taxation. Nike founder
by shusaku 2y ago
> There are many complexities, but one popular technique is to put assets into trusts that allow the returns to accrue for heirs without taxation. Nike founder Phil Knight, for example, put his company’s stock in a series of trusts to benefit his children. The trusts pay him a modest return, but the rest of the gains avoid incurring estate tax, including Nike shares that were worth $6.1 billion in 2021, Bloomberg reported.
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> Behn’s clients typically want to maximize the money they leave for their children or establish a philanthropic legacy; some seek to do both.
I’m sure that the numbers on these schemes work out favorably on paper, but if you lived through WW2 I wonder if you might be willing to pay a premium to give your immediate heirs maximum flexibility, knowing that the future is unpredictable.
- ip26 2y agoWhat are the odds of something like WWII though, compared to the odds it’s all spent by the second generation?
- aprilthird2021 2y agoNormally you'd be right, but we are eerily close to a WWIII right now...
- paxys 2y agoWe have been "eerily close" to WWIII since the day WWII ended. There's nothing really special about today's situation.
- aprilthird2021 2y agoThe situation now is much worse than before COVID. That much is obvious. There are two major wars involving developed nations which were not happening then
- HaZeust 2y agoThe fun thing about this war-mongering doom and gloom sentiment is that neither of you are right, yet. That said, 2 developed nations are at war, and a NATO nation is being substantially threatened.
- deleted 2y ago[deleted]