Gain Immediate Access to Best-Selling Author James Lange’s New Book and Help Raise a Billion Dollars for Charity
The SECURE Act, effective January 2020, subject to exemptions, forces a massive income tax acceleration on IRAs and retirement plans within 10 years of your death. This tax acceleration could mean the difference between your children having over two-million dollars toward the end of their lives versus being broke.
Since 2015, our office has been warning IRA and retirement plan owners this law was coming. Our office has been “crunching the numbers” and we are close to finishing an updated and expanded version of our last best-selling book on the SECURE Act.
Though there are a variety of options for responding to this devastating legislation, we include a detailed analysis of a critical loophole within the SECURE Act: naming a charitable remainder trust (CRT) as the beneficiary of your IRA.
For many IRA owners, naming a CRT may be the best solution for preserving your IRA for your family. Given reasonable assumptions, if you leave your million-dollar IRA to a CRT, your children could end up with an extra $816,632 over and above what they would have received if you named them outright―and your favorite charity would end up with $1,069,522. The IRS is the big loser!
What is the underlying principle behind this loophole? In three words: pay taxes later.
How it works: Under the SECURE Act, when you leave your IRA to your children, they must take distributions of the entire inherited IRA―and pay taxes on those distributions―within 10 years of your death.
But if you leave your IRA to a CRT, the distributions are stretched over the life of your children and hence the taxes over their lifetime―greatly lowering taxation on the inherited wealth. Meanwhile, the charity pays no taxes … and receives the remainder of the trust at your children’s death.
Would you like to learn more about this incredible win/win opportunity? Does being a part of an initiative to direct a billion dollars to charity spark your imagination and your drive to make a difference?
We are looking for IRA and retirement plan owners to be part of our “let’s send a billion-dollars to charity” launch team. It will cost you 99 cents—but not immediately.
First, we want to send you a special pre-publication edition of our soon-to-be-published book, The IRA and Retirement Plan Owner’s Guide to Beating the New Death Tax: 6 Proven Strategies to Protect Your Family from the SECURE Act.
Second, we request you read the chapter on charitable remainder trusts. The chapter on CRTs provides important additional details about the charitable remainder trusts with a full analysis including advantages and disadvantages. We know you would profit from reading other chapters too, including chapters on Roth IRA conversions, gifting and changes to your estate plan.
Then, assuming you find the idea valuable, surprisingly do-able, and worthy of a minimal investment of your time, we would ask that, when we publish:
- You buy the book from Amazon for 99 cents, even though you get a copy from us first.
- You leave a book review on Amazon (assuming you genuinely think it is a valuable book).
- Consider who in your circle would benefit from the book and inform them of the availability of the book. Giving them a gift of either a digital copy of the pre-publication edition now or a hard copy that we would provide at no cost to you when available would be an extremely nice gesture.
The rewards to charity are substantial. And the rewards to your child or children extend over their lifetime. The death of the “stretch” IRA delivered a one-two-punch to many IRA owners who were counting on leaving IRA money to their heirs in a tax-advantaged fashion—ensuring a lifelong legacy.
Another benefit of naming your charity of choice as your IRA/ retirement plan beneficiary is that the money you have worked all your life to accumulate can elude the clutches of the IRS—and you would help direct desperately needed dollars to the charity of your or your children’s choice.
As far as book sales, I am donating 100% of the gross proceeds to charity:water, a charity that provides fresh drinking water to people in the US and around the world.
The amazing thing is that it will only take convincing a thousand IRA and retirement plan owners of million-dollar IRAs to establish a charitable remainder trust to raise a billion dollars for charity—and their families will be better off too!
If you would like to join us, go to www.paytaxeslater.com/billionsforcharity and we will send you the most recent draft of the book and directions for the next steps. Please do not sign up unless you intend to carry through.
As a way of thanking you for helping us reach our goal, we will invite the entire book launch team to a special book-launch party, as well as invite them to participate in multiple behind-the-scenes events―details to follow as the team forms. Thank you for your consideration. Please join our team to raise a billion dollars for charity at www.paytaxeslater.com/billionsforcharity