Picture a billionaire burger mogul. Did you picture a young blonde woman in her late twenties who enjoys drag racing? If not perhaps you have not heard about the billionaire heiress to the “In-N-Out” Burger restaurant franchise. Want to learn how billionaires are made? It takes work but also proper asset protection. Want to see how family trusts made all this possible? If you are interested in how billionaires are made, or how to inherit a billion dollars from a Palm Beach estate, read on.
Billionaire Family Trusts
- Experienced Palm Beach probate lawyers know a few things about big inheritance.
- For example did you know that 40% of the assets could be absorbed by the estate taxes?
- The Florida Trust Code has created ways of minimizing the problems caused by burdensome taxes.
- Have you retained an experienced West Palm Beach probate attorney to help reduce estate tax?
In-N-Out Burger
- In-N-Out Burger is a burger chain found in the Western States of the USA.
- There is an interesting article posted on Yahoo.com about inheriting a billion dollar fortune and family business.
- How do you think this large inheritance was managed?
- Was it all one-bulk transfer?
- Seems unlike given the problematic federal estate tax which would take away 40% of the assets.
- Odds are this was through a system of trusts.
- How many trusts? Well its hard to say.
- What types of trust?
- This is also hard to answer as trusts are private and not filed with the court absent a dispute.
- An experienced Palm Beach probate litigator knows that there is a variety of trusts that could be useful to these burger billionaires.
- Do you know what they are?
- What about which ones could help you?
- The owner inherited the billion dollar family through trusts, family trusts, most likely some irrevocable family trusts and more.
- Experienced Palm Beach probate litigators know how to use these documents to make a smooth, tax free inheritance.
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