Many ultra-wealthy individuals utilize legal strategies to manage their tax liabilities.
These strategies often include the use of tax havens—countries or regions with low or no tax rates—to hold assets.
Trusts are another popular tool; by placing assets in trusts, they may no longer be considered part of the individual’s taxable estate.
Investment in assets that offer tax breaks, such as municipal bonds or real estate investments that benefit from depreciation, can also be effective.
Additionally, strategic charitable donations can both benefit society and reduce taxable income through charitable contribution deductions.
These methods are complex and typically require the guidance of experienced financial advisors and tax professionals to implement effectively and legally.
