Key Takeaways:
The "Buy, Borrow, Die" strategy is designed for high-net-worth individuals aiming to maximize their legacy while minimizing tax exposure.
Leveraging appreciable assets through loans can prevent capital gains taxes and provide a means to acquire additional assets.
It's crucial to understand and manage the risks, ensuring that assets have sufficient revenue or net worth to cover loan repayments.
On the death of the asset...
Key Takeaways:
- The "Buy, Borrow, Die" strategy is designed for high-net-worth individuals aiming to maximize their legacy while minimizing tax exposure.
- Leveraging appreciable assets through loans can prevent capital gains taxes and provide a means to acquire additional assets.
- It's crucial to understand and manage the risks, ensuring that assets have sufficient revenue or net worth to cover loan repayments.
- On the death of the asset holder, heirs receive a step-up in basis, which can significantly reduce or eliminate capital gains tax on inherited assets.
- Leverage can be a powerful tool for wealth generation, but it must be approached with care and in alignment with a robust financial understanding.
Chapters:
Timestamp Summary
0:05 Exploring the ‘Buy, Borrow, Die’ Strategy with Experts
1:43 Strategizing Wealth Transfer for Millionaires’ Legacies
2:30 Leveraging Art Assets for Tax-Efficient Acquisitions
3:31 Strategies and Risks of Financial Leverage
5:53 Understanding Investments and Loan Terms
6:19 Strategic Asset Inheritance and Tax Avoidance
7:51 Leveraging Credit to Build Wealth and Asset Appreciation
8:35 Strategic Financial Planning and Thoughtful Investment Advice
Powered by ReiffMartin CPA and Stone Hill Wealth Management
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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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