In the Headlines
August 26, 2012, republished by <I>InvestmentNews</i>, August 27, 2012

Mitt Romney Tax Returns Show Strategies for Moving Money to Kids


Republican presidential candidate Mitt Romney and his wife, Ann, have used sophisticated estate- planning techniques for more than a decade to minimize taxes and amass at least $100 million for their family outside of their estate. The couple created trusts as early as 1995, when Romney was building wealth as chief executive officer of Bain Capital LLC. They packed one for their children with investments that stood to appreciate and set up another for charity that provides a tax deduction and income. The candidate's retirement account, valued at as much as $87.4 million, may benefit his heirs for decades.

"It's beneficial for your kids and grandkids to push the money downstream,” said Co-Chair of the Private Wealth Services Group David Scott Sloan. “The Romneys appear to be doing things that are similar to what other high-net-worth families do.”

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