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Reply to "Ultra high net worth and how much to leave to kids"
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[quote=Anonymous][quote=Anonymous] But we could more intelligently sell them the strip mall for $3M and carry back a mortgage for the $3M. The IRS puts out minimum interest rates on a monthly basis. During the pandemic this rate was below 1%. Currently it is 3.72% on long term interest rates. In other words we could sell them the property at market value and lend to the them to purchase it at effectively below market value. We’d lock in the purchase price and they’d keep the cash flow. We’d still get the mortgage payments. [/quote] This seems kind of convoluted, and a lot for a CPA and lawyer to set up. It's also a reporting burden for your kids. Why not just keep the asset under an LLC or Trust, and never transfer it to them directly so you have no asset transfer? Instead, make them trustees or shareholders so they can benefit from it. I guess they can get fancy with it and use it as their vacation fund -- have the board meeting in Hawaii and stuff like that.[/quote]
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