Securing his future, honoring his past.
William Harrison's primary concern was ensuring his $4.2 million estate would provide for his three children and seven grandchildren while also fulfilling his lifelong commitment to supporting St. Jude Children’s Research Hospital. His existing trust, drafted years ago, lacked the flexibility to adapt to current market conditions and tax laws, potentially diminishing the impact of his charitable donations and future family inheritance.
Golden Door Asset used the Retention Ratio Calculator to analyze St. Jude's financial health, confirming their effective use of retained earnings for research and patient care, alleviating William's concern of inefficient donation usage. Leveraging this information, we restructured his trust to include a Charitable Remainder Trust (CRT), allowing for a significant upfront tax deduction of $350,000, increased income during his lifetime, and a substantial donation to St. Jude upon his passing. The Times Interest Earned Ratio was also used to assess the safety of income-generating assets considered for the CRT.
We integrated the Retention Ratio Calculator data with our proprietary estate planning software to model various trust scenarios and tax implications. This allowed us to present William with a clear, data-driven comparison of his options.
$350,000 initial tax deduction, increased annual income of $28,000, and a maximized charitable contribution to St. Jude.
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