LPL Chief Exec Transfers Stock Worth $14 Million

The CEO of one of the nation's largest planning firms is doing some estate planning of his own.

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Comments (1)
It's always interesting to hear estate planning described in terms of how to deal with estate taxes and not much else. Does Mark Cassidy have an advisor who would help him focus on another important aspect of estate planning: building a philanthropic legacy? Not only would he be further reducing estate taxes but also current income taxes.

Making such contributions by public company owners is pretty straight forward by using appreciated stock. However, private company owners can also transfer shares of their companies to philanthropic uses, it just takes an extra step of finding a suitable private equity partner to fund the migration of capital out of their business. In my practice I usually see the secondary benefit of raising new capital to fund the business development of the company, further enhancing the long term values of the business.

Martin Imm, Capital Access Strategies
Posted by Martin I | Monday, August 11 2014 at 5:09PM ET
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