That part of your wealth you keep, after capital gain taxes and estate taxes, we call your Financial Capital. The portion you lose due to capital gain and estate taxes we call your Social Capital.
The good news is that capital gain and estate taxes are 100% Voluntary! It generally comes as a shock when we tell individuals that they are a Philanthropist. They generally do not think of themselves in these terms, until we define a philanthropist as someone who gives away upwards of 30% during life to capital gain taxes and up to 60% at death in estate taxes.
The question is will you be a Voluntary or Involuntary Philanthropist? Would like to self direct these dollars back into your community in ways that reflect your values or would you like to have the IRS do it for you.
What will your legacy be? Will it be a tax or a gift? The choice is yours!