In studio with Mike D’Ambrosio today is Sean Buxton, a Certified Financial Planner™ for Legacy Capital Group. Sean will spend this afternoon telling us all about, charitable remainder trusts (CRT), a 1031 exchange alternative. After giving us the general definition of a charitable remainder trust, Sean and Mike will explain:
Why someone would put a building in an irrevocable trust for a charity and what types of people should have one.CRT tax incentives, such as avoiding taxes on capital gains.The process of setting up a CRT and how do you benefit from one.Generating income on a CRT property.Talking about CRT’s with a client when he or she has heirs who may be expecting the property.Using the similar donor advised fund which keeps families involved.Drawbacks to consider before you setting up a CRTMike wraps up today’s show by having Sean walk him through an example of a charitable remainder trust. He shows Mike and you how a CRT benefits you and your heirs in several situations
To contact Mike D'Ambrosio you can visit his website at www.MikeSellsSiliconValley.com, email him at [email protected] or call at (408)630-0101.
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