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Tuesday, February 20, 2024

The Large HNW Story of 2022: The Patagonia Function Belief


When Patagonia founder Yvon Chouinard introduced this fall that he was promoting the corporate and transferring a part of the possession to a objective belief, the quick response was that he was doing so for purely altruistic functions. Chouinard selected this property planning automobile to satisfy a particular objective, in fact—preventing local weather change and advocating for employees’ well-being. 

However he additionally structured the deal in such a manner that whereas he should pay $17.5 million in present taxes for the shares he transferred to the belief, he’s not on the hook for $700 million in federal capital positive factors from the sale (based mostly on Patagonia being value $3 billion). And by not transferring the corporate—and his giant fortune—to his heirs, he avoids the 40% U.S. property and present tax.

WealthManagement.com lined this story in nice element over the course of the 12 months. What follows are just a few of our high tales on the subject, in addition to some extra assets for advisors when discussing trusts and taxes with purchasers.

Click on by the slideshow to overview our protection of this story.

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