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Background:  With over 50% of their entire net worth in one company, the Family desired a more stable and diverse portfolio.

Solution:  We advised the family on the various options to diversify their holding. When the family decided on a “block sale” strategy, Legacy Bridge interviewed several Wall Street brokerage firms and negotiated the terms of the sale.

Results:

1. Saved the family over $500,000 in Wall Street consulting fees.
2. Created a diversified portfolio with less volatility due to diversification across multiple asset classifications.
3. Eliminated reliance of wealth in a single company.
4. Added liquidity to family wealth.
5. Since diversification the share price has been extremely volatile and at one time dropping over 78%.  Had the family not diversified, their net worth would have dramatically decreased.  Meanwhile, the family’s new diversified portfolio has appreciated in value.

Background:  Focused on protecting assets from future creditors and/or unexpected marital changes, a family requested assistance from Legacy Bridge to explore possible strategies, perform due diligence and present solutions.

Solution:  Legacy Bridge gathered information from attorneys, CPA firm, potential trustees and multiple experts in the field. Various solutions were presented, including extending the termination date of several irrevocable trusts or the use of Asset Protection Trusts. Upon review of the solutions identified by Legacy Bridge, the family decided to utilize the Asset Protection Trust Strategy.

Results: 

1. Research and due diligence completed on behalf of family which provided valuable expertise in one consolidated process
2. Working with the family members, engaged an attorney to draft the Asset Protection Trusts and coordinate its creation and funding
3. The family, in collaboration with their attorneys and Legacy Bridge, was able to protect approximately 70% of their wealth.

Background:  Family desired to make a sizeable gift to a charitable organization.  Family asked Legacy Bridge to attend meetings and coordinate terms relating to their gift.

Solution:  Legacy Bridge discussed gifting options with development director for charity and formalized a mutually agreeable plan.  Legacy Bridge reviewed the proposed gift agreement and discussed the same with the Family’s legal counsel and CPA firm.  In working with the Family’s team, Legacy Bridge finalized a gifting schedule that was equal parts tax effective for the Family and beneficial for the charity.

Results:

1. A tax effective plan that met the needs of the family and the charity.
2. Secured naming rights and recognition for the family on their sizeable gift.
3. Assisted the family in identifying appropriate securities to use when making charitable gift.

Background:  Our client with a taxable estate is aware that her children have considerable wealth of their own.  The client asked Legacy Bridge to review her estate plan to see if the tax burden could be reduced as bequests to her family are made.

Solution:  At the client’s request, Legacy Bridge met with her children to discuss potential inheritances to determine how those bequests best fit into their own individual estate plans.  Working with the client’s advisors, an updated estate plan was implemented so the children’s inheritances are received in the most tax efficient manner – including the use of generation skipping trusts and charitable remainder trusts.

Results:

1. A holistic estate plan meeting the client’s needs as well as the needs and desires of her children.
2. The client and family saved more than $3 million in estate and inheritance taxes.