Understanding “Involuntary Philanthropy” and Social Capital

• To what extent are you practicing “involuntary philanthropy”? Check line 44 on last year’s return (the taxes you paid) to determine the degree of “involuntary philanthropy” vs. “directed generosity” in your personal economy.
  
  “Involuntary Philanthropy” (The IRS) $__________  vs. “Directed Generosity” (Charitable Gifts) $__________

• Referencing your most recently filed tax return, if you paid more in taxes than you gave to the causes and organizations you really care about, how important is it to you to reverse these two elements of your personal economy?
  
  

not important     somewhat important     important     very important     extremely important

• To what extent are you practicing “involuntary philanthropy”? Check line 44 on last year’s return (the taxes you paid) to determine the degree of “involuntary philanthropy” vs. “directed generosity” in your personal economy.
  
  “Involuntary Philanthropy” (The IRS) $__________  vs. “Directed Generosity” (Charitable Gifts) $__________
  

• How concerned are you that the social impact of your tax dollars will be significantly reduced as a result of government waste and inefficiencies, or that the endpoints for your tax dollars may support causes that are 100% in conflict with your family’s values and beliefs?
  

not concerned    somewhat concerned    concerned    very concerned    extremely concerned

• Have you evaluated measures which take advantage of the voluntary nature of capital gains during your lifetime, and estate taxes at death, to potentially eliminate both capital gains and estate taxes from your family legacy?    Yes     No
  
  
• If you could use illiquid “balance sheet” assets and charitable giving strategies to reduce your income taxes by as much as 40% to 50%, creating positive cash flow in doing so, how important would it be to you to learn as much as you can about such strategies? 
  

not important    somewhat important    important    very important    extremely important

• If a reduction of income taxes of $100,000 per year became a reality (in the form of extra cash flow) in your personal economy, how would you want that money to be put to use

_____ Invest it within my estate
              _____ Increase my charitable giving          
                           _____ Use it to enhance wealth transfer to family          
                                         _____ Use to restore (to my family) assets gifted to charity

•  Do you agree with the statement “paying more in taxes than is legally required is not good stewardship of the wealth placed in your care?”:                       YES                        NO

• Income tax is typically the largest simple expense item for most households. What is the maximum planning expense you would consider reasonable, in order to significantly reduce income taxes over the next five years? 

        _____ $1 of expense for every $2 income tax saved (50%)
        _____ $1 of expense for every $6 income tax saved (16%)
        _____ $1 of expense for every $4 income tax saved (25%)
          _____ $1 of expense for every $8 income tax saved (12.5%)

• Considering it to be a discounted pre-payment, what level of planning expense, as a percentage of estate, would you be willing to incur to completely eliminate estate taxes from your family’s financial legacy (eliminating 40% estate tax)? 
  

_____ 1% of taxable estate               _____ 3% of taxable estate                  _____ 5% of taxable estate
_____ 2% of taxable estate               _____ 4% of taxable estate                   _____ 6% of taxable estate