ALBUQUERQUE, N.M. — Today I will tell you something not to do. Obviously this could encompass many things. For example, taking the “five for $5” family discount at Bubba’s bungee jumping off of the Great Smoky Mountains although it appears Bubba has only one elastic cord.
Well thank goodness my kids were a little smarter than I was on that one, but today I’ll stick to tax planning ideas to avoid. And one in particular because it was featured in a leading financial publication. The headline said that an old planning idea for the wealthy had been revived.
I thought I had all the old ideas compartmentalized in my head — that was always my excuse for the inability of new ideas to squeeze in. But I must confess while I heard of this idea I have never had a client even remotely contemplate it.
Alright Mr. Negativity, you say, just tell us the idea and we can decide whether we want to be part of a good old-fashioned revival.