Celebrity Estates Podcast: Elon Musk's Charitable Limits

Celebrity Estates brought to you by Wealth Planning>Estate Planning Celebrity Estates Podcast: Elon Musk's Charitable Limits What clients can learn from Musk's story about transferring wealth strategically to take care of family members and the creative use of family foundations to make tax efficient charitable donations.

David H. Lenok | Nov 08, 2021

 

Sponsored by Parametric

 

Elon Musk's life is fertile ground for any discussion about wealth and estate planning. He's the wealthiest man alive, is not married, has six children, is involved with multiple business ventures, discusses his beliefs around taxes and philanthropy publicly, and more.

In this episode, David Lenok is joined by John Pantekidis of Twin Focus Capital to highlight what clients can learn from Musk's story when it comes to transferring wealth strategically to take care of family members and children, as well as the creative use of family foundations to make tax efficient charitable donations that reflect their areas of interests.

John also addresses how clients can avoid the pitfalls of keeping your wealth in illiquid assets and familial drama through premarital agreements and including the children in charity foundations. 

John discusses:

• Why premarital agreements should be standard operating procedure; 
• How asset type can restrict donation amounts;
• The role philanthropy can play in bringing families together across generations.
• What clients can do to increase charitable giving and pass money on to the next generation; and

Listen to the podcast

Browse more episodes in this podcast series. ... 

The Celebrity Estates: Wills of the Rich and Famous podcast is available on Apple Podcasts, Android, Stitcher and wherever podcasts are found. 

TAGS: Philanthropy People High Net Worth Individual Wealth 0 comments Hide comments Comment * Switch to plain text editor

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