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Garrett Griffin from Legacy Tax Strategies, LLC shares some aspects of real estate planning. Garrett specializes in helping clients defer capital gains taxes on the sale of assets, which can help increase wealth over time. He also discusses deferred sales trusts, an estate planning strategy often used by the wealthy. He breaks down the benefits of using a DST, including deferring taxes, protecting the asset, and maintaining liquidity. Garrett shares his experience in helping people structure DSTs to maximize tax efficiency. He outlines some common pitfalls to avoid, such as overpaying for the trust and having enough assets to cover the cost of the trust. Finally, Garrett discusses how to use DSTs and other wealth strategies to help clients build long-term wealth. [00:01 - 15:36] Opening SegmentIntroducing Garrett to the showEstate planning, asset protection planning, business planning, and tax planning[15:37 - 26:24] The Tax Engineering Component and Typical Client BaseHow to reduce taxes through tax engineeringGarret shares his typical client range[26:25 - 42:26] Deferred Sales TrustSaving on taxes by using a deferred sales trustThe trust is a completely standalone vehicle that is created by the trusteeThe trust is going to purchase the asset from the seller The note holder does not have to pay the tax until the note matures[42:27 - 51:35] How to Leverage Seller Finance Deals with a TrustThere is no prepayment penalty in private seller finance deals, which can make it easier for the seller to take on the riskHow the deferred sales trust can be used as an alternative to a 1031 exchange[51:36 - 58:34] Closing SegmentEvery transaction is structured differentlySee the links below to connect with GarrettQuote/s:"What differentiates revenue? I would say from a particular strategy, they use life insurance very well. And it's a layering of strategies. It's not one silver magic bullet that's doing it all."I Help People Build Wealth And 10X THEIR MONEY By Establishing Multiple Income Streams Through Multi-Family Real Estate Investments.Our blueprint to financial freedom is streamlined so you can get going in multifamily commercial real estate investments fast. Here's how:STEP 1JoinStart by joining the 5 Talents Investor Club. A community of people just like you who are looking to grow their wealth and achieve their financial freedom.STEP 2LearnOnce you join, we'll take some time to learn about you and our goals and share resources that will help you in your investment journey.STEP 3InvestWe'll help you invest passively in multifamily real estate together in a group so you can create passive income and grow your wealth.STEP 4RelaxEvery investment builds additional streams of passive income, getting you one step closer to financial freedom.Connect with Garrett through LinkedIn, or visit www.legacytaxstrategies.com. Email him at [email protected] with me:www.5talents.capitalLinkedInInstagramWatch 5T CRE on YouTubeLeave us a review and receive your free ebookEmail us --> [email protected] the Show.