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Twitter Elite Doing Some Estate Planning

By Gerry W. Beyer

Twitter.money

While Twitter’s elite were planning the firm’s upcoming IPO,they were also making some canny estate-planning moves.

Jack Dorsey, the company’s 36-year-old chairman, EvanWilliams, the 41-year-old largest individual shareholder, and Richard Costolo,the 49-year-old Chief Executive recently made estate-planning moves that willsave them a total of around $115 million in federal estate taxes (assuming anoffering price of at least $28 a share).

Some of the techniques used by these Twitter insidersinclude grantor-retained annuity trusts, gift trusts, and single-member limitedliability companies.  These movesdemonstrate how careful planning can greatly benefit the truly wealthy.

See LauraSaunders, How Twitter Insiders Cut TheirTaxes, The Wall Street Journal, Oct. 11, 2013.

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Current Affairs, Estate Planning - Generally and Trusts