Estate Tax Planning & Family Limited Partnerships

The general partner(s) manage the assets contributed to the family limited partnership. Limited partners generally have no rights with respect to the assets held by the FLP. The lack of Marketability and the fractional ownership of the limited partnership interests held by the limited partners are two of the well-established reduction principles that diminish the value of the taxable estate. The discounts allowed by the restricted rights provides for the reduction in the value of the assets held by each limited partner, but also increases the amount of annual tax-free gifting that can be attained. The current high marginal estate tax rates allow for wise and prudent planning which is necessary to preserve the family’s wealth.

Centralized Management of Family Assets
When using a corporation as the general partner, the general partner controls all of the assets in the partnership. This corporation can also employ family members and others. It will call meeting, conduct training sessions and facilitate wealth management. With a corporate general partner, continuity must be ensured even in the event of the husband and wife.

Minimize Probate
By using an FLP, the time and expense of probating an estate can be greatly reduced. When a Living Trust is also used, then there is no probate. Living Wills are not public record and therefore no one but those involved in the family know of its contents.

Cure Title Defects
The procedure for transferring assets to an FLP can help with the discovery of title defects. This can be a significant issue for real estate assets if not discovered and corrected.

So Much Work for Just 60 Seconds

When you watch commercials, music videos, TV programs, or films, do you ever wonder who it is that handles the job of getting them on camera and how they’re put together? That’s the work of a video production company. There are really two kinds of companies that create video content. A technical production company may target details that the client isn’t interested in doing. They may do the things that come after the video is shot, the editing and the post-production. Or they may simply take the finished video and post it online. That’s one thing that a video production company may do.

Other companies are full-service. That means they do it all from start to finish, and post-production as well. A full-service company will do the creative development, then write the script. They’ll be responsible for locations and casting. They’ll produce, edit, and deliver the final product for posting. A company like this is totally hands-on; the client states what they want and the video professionals do the rest.

A commercial production company, as you may expect, has a specific focus. It creates short videos, 30 to 60 seconds, that are oriented toward commercial branding. They are all about promoting a product, a company, or a service; or getting a company’s name, brand, and message out in front of the public as widely as possible. A commercial production company creates videos to grab the public’s attention and interest, and to create excitement-“buzz,” as it’s often called. The company creates what are effectively “teasers” to bring in potential customers.

Commercial producers and their creative teams have to get excited about a client’s product, brand, or message. In this way they develop ideas that connect with the audience. Their process includes personally experiencing what the client is selling to create an understanding of the market and the customer.

The video producer’s job looks creative and exciting, and it can be. It is also a highly demanding and responsible job that calls for not only creativity but people and business skills. The producer might be thought of as a “creative problem-solver.” He or she is the leader of the process from pre-production through actual production to post-production. The producer is responsible for the planning, scheduling, and final editing of the project, and hiring the talent and the staff. He takes part in selecting graphics and audio and may actually write the script. He is the point of contact between the company and the client, facilitating all communications to make sure the project is delivered according to the client’s specifications. And of course, it’s the producer’s job to make sure everything is done on time and on budget.

It is very exacting work that a video production company does. You might not believe the amount of work that goes into a 60-second spot and the number of people it takes to pull it off. But these production companies know how to do it with the greatest effect.

The King James Onlyists’ Nightmare

Last Sunday night’s big event came as a shock to the small church – the St James Congregational Baptist Church in Silock, Alabama. An elderly group of five men and women were participating in a Bible class when a young preacher ran and told them to leave their class and walk with to the nave.

“What is it, Pastor?” one of the ladies asked the question everyone was wondering. “Just follow me as quickly as you can!” he said urgently. “You’ll be in for a shock.” As they approached the door to the right side of the nave, everyone could see a bright light beaming radiantly from the square mirrors.
As they went in, they looked and saw a bright angel. Everyone fell on the floor and began worshipping him. “No!” the celestial being said in a booming voice. “You must not worship me for I am only a servant of the Lord, much like yourselves.”

The angel turned down his brightness gradually so that he appeared as a human being. “Is this better?” he asked the stupefied congregation. “Please. Everyone sit. I have come on a mission. Your little group has been chosen to come with me in a time machine to watch some of the greatest events in the Holy Bible.”

Everyone sat up in astonishment as a large translucent box gradually appeared behind the angel.
“I know all of this is hard to take in, but the Lord has scheduled three events of the Bible that you as a group must choose… What scenes do you want to see?”

Although the five people and the pastor still had their mouths and eyes were stretched open as wide as possible, one of the elderly women asked, “Can I see when God found out Adam and Eve sinned in the Garden?”
“So be it,” the angel said.
“I’d like to see is Moses parting the waters.”
The angel said, “So be it!”
Then a man said hesitantly, “Can I see Jesus as He was being tempted by Satan?” “So be it,” said the angel. “Now, let’s all get into the time machine and watch these scenes.”

All five parishioners and the pastor got into the machine together with the angel and they suddenly vanished. In a matter of moments, the time machine arrived in the Garden of Eden. They stepped out into the garden, they saw Adam and Eve looking down in shame before God who was in the form of a mist. The angel told them they would be invisible where they went.

As the scene unfolded God spoke to Adam and Eve in a language, the elderly travelers couldn’t understand the language that they were speaking. The angel knew what they were thinking and said to them, “They are speaking in an ancient form of Hebrew.” Suddenly, the group stared at each and they looked upset and the angel knew why.

Thirty minutes later, after they saw the two other Biblical scenes, they looked extremely discouraged and all looked a little depressed. One of the elderly ladies got angry and said, “Why wasn’t everyone in the scenes speaking in English straight from the King James Bible?” An elderly man shouted, “This setup must have been a scam! Those people from the Bible must have been actors!” “Everybody knows everyone in the Bible spoke old English from the King James Bible – the perfect Word of God!”

Breakdancing: The Roots of The Street Dance

Breakdancing is the street dancing which began around 1969. Most people will agree that the superstar James Brown began the whole thing with a dance called the “Good Foot”. James Brown was a real innovator and his dancing was something to behold. He did things with his feet that would give most of us a couple of broken legs!

Simultaneously in the ghetto, what is known as the “dance battle” became very popular and in many cases replaced gangster warfare as a method to end disputes. Breakdancing lent itself very well to the dance battle and the Good Foot was a perfect base for breakdancing.

Street dancers adopted the Good Foot which, for a short period, became known as the B-Boy and then breakdancing. Back then the dance moves were a lot different to the kind of breaking we see today. There were no popular, documented moves such as the headspin or the windmill. The dancers simply used their feet and nothing else. Some would argue that this “old style breaking” is more complicated than the kind of dancing we see these days.

Some of the floor work improvised back then was fantastically complex. If you go to a modern breakdancing competition you won’t see many of the old school moves but you will see a lot of gymnastics. Impressive though this is, there are those that think breakdancing has lost its roots a little. On the other side of the coin you have people saying that it’s just an evolution.

As a way to solve street battles and gang violence it was inspired. You were finding that amazingly, the gangs were using breakdancing instead of fighting. The breakdancing “battle” took on a world of its own. Of course there were still fights and inevitably sometimes a sore loser in a breaking battle would resort to violence.

Out of all this, breakdancing crews were formed. The members of a crew would practice and dance together. This is when the first very basic breakdancing choreography came about. One crew would invent a move which would inspire an opposing crew to go one better. For some of these guys breakdancing was literally the difference between life and death. They were very dedicated to what they were doing.

Just as all these new breakdancing crews were bursting onto the scene a guy called Afrika Bambaataa embraced the genre. Afrika Bambaataa is a legendary figure in the hip hop world. He was largely responsible for bringing breakdancing into the general public’s consciousness. He got to know all the crews and encouraged them to develop what they were doing. Bambaataa’s “Zulu Kings” breakdancing crew became a force to be reckoned with, winning many battles.

Since then breakdancing has continually progressed and more and more very talented dancers were bringing their skills into the arena. There were new moves being invented by the week and it wasn’t long before we had headspins, windmills, backspins and all the other high energy, acrobatic moves we see these days.

The “Rock Steady Crew” were one of the groups to pioneer this new school breaking. These guys along with Charles Ahearn who made the seminal hip hop movie “Wild Style” were to bring breakdancing fully up to date and the dancing phenomenon became much more popular. There was no stopping the onward march of the break dance.

Nowadays breakdancing influences a lot of the choreographed dance routines which are an integral part of a modern pop record release. You have young kids coming up who are really into it and the genre is experiencing something of a renaissance. There’s no doubt about it, breakdancing is here to stay and if you want more info a quick search on the Internet will turn up thousands of references to this modern art form.

Shedding A Light on Green Bonds

The Government is aiming for a greener economy. Businesses and organizations are trying to support their production through green resources. Green economy, green bonds, green business and going green has become the current anthem worldwide! We know what green economy and green business mean but as I wasn’t aware of ‘green bonds’ initially, same will be the case with many of you. So, today with the help of this article, let’s gain an understanding of the term.

Green bonds: In simple language, these are the bonds issued by the Government and are tax-free. These bonds are used for underdeveloped localities mostly by municipalities or federally qualified organizations. The purpose of these bonds is to finance projects which are aimed at achieving energy efficiency, protection of aquatic and terrestrial species, curbing pollution, managing water quality and quantity and clean transportation, to name a few. Due to the tax-free status, purchasing this bond accounts for a lucrative investment when compared to a taxable bond. This tax-exempt status acts as a financial incentive to handle social issues such as preserving energy sources and climate change.

Qualifying for a green bond requires:

1. The building is at least 20 acres in the size
2. The project will receive a minimum of $5 million from the state or the municipality
3. A minimum of 75% of the building is registered for Leadership in Energy and Environmental Design (LEED, a rating system developed to measure the environmental impact of the building) certification.

Certain benefits of green bonds are:

Reducing the cost of the project: These bonds are an excellent system of saving a large amount of capital to support environmental investment. Ideally suited for large-scale green projects such as solar and wind development which require capital investments prior to revenues and which generate modest revenue over a long time-period.

Investor demands: Due to the increasing awareness for a green financial market, there is a constant demand of socially responsible investment projects. Owing to this scenario, investors are expressing strong interest in purchasing of green bonds. While retail investors seek investment through their brokers and fund managers, institutional investors use these bonds to handle social, economic and Government mandates. Before green bonds came into the picture, it was a struggle to address these mandates with fixed income tools. This is the reason why these bonds have been successful in attracting new investors thereby providing a new platform for future issuances.

Building brand value: As the major provider of these bonds are the Government, they strike the chance and brand themselves as innovative and dedicated to keeping pace with the green projects.

Leadership: Talking about the future, green bond issuers are the leaders of the world. With their active participation, they can encourage municipalities to participate and create a reputation for monetary innovation. This will make way for upcoming projects in financing environmental projects.

Sharing the time when efforts are put-in to preserve the environment, green bonds are an altogether new opportunity for investors and issuers. Apart from the above-mentioned benefits, green bonds are known for several other advantages over other financing options, some of which are:

Providing a medium to access sustainable investments in a fixed income market in familiar and low-risk surroundings.

Allowing the municipalities to develop a public-private partnership to speed-up the process of energy efficiency and technological advancement.