The Tax Iceberg™:
Connecting The Dots Between Life, Death, and Taxes
Benjamin Franklin said, "The only certainties in life are death and taxes."
Mastering the strategies behind the Tax Iceberg will help you face these certainties with more confidence.
Let's explore The Tax Iceberg In More Depth.
Streamlining Law, Tax, Financial Decisions
We Help Individuals And Their Advisors Create A Mini Family Office Environment Where Legal, Tax, And Financial Decisions Are Being Made Under One Roof So They Can Tackle The Tax Iceberg With More Confidence
To explain the importance of aligning legal, tax, and financial decisions, we developed the concept of the Tax Iceberg™ (see attached image). Throughout life, people work with various experts—lawyers, accountants, financial advisors, insurance agents, and more—who often don’t communicate or operate from the same strategy.
While most professionals focus on reducing "above the surface" taxes, they often overlook the "below the surface" taxes that generally arise after death. Estate lawyers may address these, but in our experience with over 200 estate law firms, few offer comprehensive tax strategies.
As a result, it's usually your beneficiaries who end up dealing with these hidden taxes—not you. And those with revocable trusts who assume they're invincible - Revocable Trusts only deal with ONE of these taxes: probate!
The Mini Family Office™ system was designed to create a unified environment where families and their advisors can make integrated business, legal, tax, finance, and investment decisions.
How It Works - Next Steps
Here's how we can created hundreds of "mini family offices" for families and their advisory teams...
1: Tax Iceberg Evaluation
Asset protection looks at the different strategies that can be used to lower your chances of getting sued, and if you do get sued, how to position your assets and entities to minimize the risks and potential losses from the lawsuits.
2: Aligning Of Different Experts
Tax reductions lens looks at several different layers of taxes that impact every dollar that you own and control (cash or assets) and how to position different entities to minimize the taxes faced during your life and after your death.
3: Mini Family Office Approach
We look at your overall goals and dreams and how to empower your heirs and loved ones so they know how to manage your wealth after your death in a manner that is not risky and will not be diluted or depleted due to poor financial management.
What's The Cost Of Not Aligning Legal, Tax, And Financial Decisions?
Want to know what happens when your advisors and experts are not working together in a coordinated and aligned manner: Just take a look at the picture below - it depicts the grim reality that your "intended beneficiaries" will have to deal with!
The Mini Family Office™ Approach ensures that your heirs don't have to deal with The Silent Beneficiary™ (IRS and probate court) all by themselves, on the worst day of their lives: right after the death!
Earning money and building a multi-million-dollar portfolio is one thing - but controlling, maintaining, and passing on that wealth tax-efficiently is a whole different game. That's a game that's not very obvious and can be rather complex and confusing, as it incorporates dealing with assets and wealth that you have earned and accumulated over decades - it's going to take time and strategy to map it out and execute a robust plan.
People generally avoiding thinking about their death, let alone discussing the details of how their money should be distributed with their family members. And, to add to that, if all your advisors are working on different wavelengths without anyone taking the time or interest to sit down and help you and your heirs map out what happens after your death - your heirs will end up dealing with the court dates and tax obligations that YOU and YOUR partner have left them to tackle.
Imagine if your heirs were the parties involved in the lawsuits, like the ones in the picture - what a nightmare!
Whether you're looking for quick, one-off, express estate plans, or more robust trust and foundation structures, we can help you identify the "above the surface" and "below the surface taxes", and help you create a roadmap that all your advisors and experts can follow so your beneficiaries are not left to deal with these manners all by themselves!
Explore How The Mini Family Office Approach Can Help You Tackle The Tax Iceberg With More Confidence
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