Have Financial Moves Like Romney

Have Financial Moves Like Romney

MH900433178[1]All politics aside, the presenceof an individual as financially savvy as Mitt Romney atop the Presidentialdebate stage brings some important estate planning lessons into the publicview. Not least amongst them is the “Intentionally Defective Grantor Trust” andthe acronym-turned-message, “I DiG IT.”

Romney and his use of the IDGT(accordingly pronounced, “I DiG IT,” if you aren’t into spelling out youracronyms) were the subject of a recent article in Bloomberg News titled “Romney‘I Dig It’ Trust Gives Heirs TripleBenefit.”

A popular wealth transferstrategy among estate planning attorneys, the IDGT provides a “triple benefit”to taxpayers who employ it. The key, as with so many wealth transfers, is toplace unappreciated assets in an IDGT and thereby shelterthem as they grow. If the assets then appreciate in the IDGT, then the transferwill ultimately maximize the wealth transferred and minimize the attendingtaxation.

To learn more about this popular IDGT strategy and howit may benefit you (and your loved ones), check out the original article then call Idaho Estate Planning to arrange an Initial Consultation & Estate Plan Analysis. Remember, good planning is no accident.
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