Wealth Preservation Strategies in Puerto Rico and Beyond

Posted by: Cesar Trabanco on Saturday, December 8, 2018

This globinar in Puerto Rico offered examples on how Estate Taxes apply to Puerto Rico born U.S. Citizens who own tangible property located in the US. Essentially the same Estate Taxes apply to any U.S. mainland citizen residing in Puerto Rico or any other location outside or inside of the U.S. Cesar Trabanco of Global Chamber welcomed member AUCTORIS with a breakfast with a group of professionals and leaders.

The group included accountants, lawyers and consultants interested in learning more about different strategies to preserve wealth and reduce estate taxes - for themselves and their clients.

Kristin McGinnis of AUCTORIS, an Advisory Board Member for the Global Chamber Denver, began the conversation and Richard Hartmann, Co-founder of AUCTORIS, was the main speaker at this informative session.

Read the blog HERE.

Watch the event HERE.

The speakers provided useful tips on strategies for shifting value in different situations like the following... 

  • Before growth occurs, a start-up company can gift some % of the company today to a trust for family or heirs, potentially avoiding estate tax for future generations.

  • After growth already has occurred, a company can change the interest from 100% voting to 1% voting and 99% voting. And the company can also maximize taxable estate reductions by gifting/selling the 99% non-voting to a special trust and/or offering the value of interest for gift/sell to trust. 

Further and more extensive examples of strategies were given to the local attendees. Watch at the links above.

Richard Hartmann - Co-founder of AUCTORIS

Richard co-founded of AUCTORIS in 1978 and today he is the company’s most experienced Wealth Preservation Architect. He specializes in values-based wealth preservation planning, nationally and internationally, for ultra-high net worth families and significant privately-held businesses. Combining his legal, tax, and broad life insurance knowledge with decades of experience, he designs sophisticated life insurance portfolios for ultra-affluent families. He has implemented planning strategies that have successfully transferred billions of private wealth multi-generationally and to charity. Richards believes that private wealth remaining under family control does more to serve the needs, goals, values, and objectives of the family, their community, their charities, and society as a whole, versus passing 35-45% of wealth by default through the tax and government system. He uses a client-centric approach, understanding that every family has different concerns, goals, dreams, and desires – so he listens first, then uses his experience to design plans with other advisors to accomplish each family’s unique goals.



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