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There is a window of opportunity through December 2012 to take advantage of the historically high Gift Tax and Estate Tax exemptions ($5,000,000 for individuals and $10,000,000 for couples). Income producing property would more likely be contributed directly because valuations for this purpose would create more bang-for-the-buck than actual bucks.
Residential property presents an excellent source of funds. The funds from financing a residence are granted an LLC, which is then put into a dynasty trust in a state that has asset protection laws. A dynasty trust remains in effect virtually forever protecting all future generations from estate taxation.
However, residential properties are excellent, especially since there is a side benefit for high net-worth, high-exposure individuals like hedge fund managers, doctors, entertainers, etc.
By placing a very high mortgage on the residence, is no longer attractive to potential creditors. Combining the financing with a dynasty trust in a state with asset protection statutes, preserves wealth for future generations and protects is for the current.
Gelco provides access to this highly unusual and difficulty financing.
Gelco Real Estate Funding, Inc
155 West 68th Street, Suite 2010
New York, NY 10023
Tel: (212) 655-9534
Fax: (212) 537-6087
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