Travel Beyond® Launches America’s First Travel Trust™

Travel Trust™ combines gift tax exemptions with enriching intergenerational travel.

MINNEAPOLIS, Minnesota, November 16, 2010 /PRNewswire/ — Travel Beyond, a 35-year-old, US-based, travel consultancy specializing in international luxury tours, luxury safaris and luxury cruises, is pleased to announce the launch of America’s first-ever Travel Trust™.

This innovative program allows parents and grandparents to place tax-free gifts into a trust for family members. Trust funds are designed to be used for enriching travel experiences today and in the future.

Creating a Meaningful Trust for the Next Generation

Creating a Trust can be an overwhelming process. On one hand, you want to provide financial safety and security for your family. On the other, you want to ensure your gift fosters growth and development for your children and grandchildren. If only you could give them the world.

Now you can through America’s first Travel Trust™.

Give Them the World

For many, travel is an important, personally enriching part of life. It expands our minds and shapes our identities. One of the most fulfilling aspects of travel is the ability to share the wonders of ancient civilizations, amazing wildlife, and foreign cultures. The Travel Trust™ organizes these experiences as family members collaborate on an intergenerational travel plan.

“Creating a Travel Trust™ is a meaningful way to leave a lasting imprint on the ones you love,” said Jim Bendt, president of Travel Beyond. “Our clients want their kids and grandkids to share in the experiences that shaped their lives, and with Travel Trust™ they can now literally give them the world.”

Use of the Annual Gift Tax Exclusion

Travel Beyond’s concept is giving new meaning to estate planning. According to IRS Section 2503b, each year married couples have a gift tax exclusion of up to $26,000 ($13,000 per individual) to give to an unlimited number of beneficiaries. Instead of giving away assets to children and grandchildren outright, more Americans are choosing to design trusts with the goal of enriching the lives of future generations. These gifts are often designated for education, and more recently, travel.

“Many clients are interested in giving gifts for both education and travel, but don’t realize they can maximize their tax-efficiency for both goals,” said Margaret Cronin, partner, Grandchamp, Guyette & Cronin PLLC. “By writing a tuition check directly to a qualified educational organization (gift-tax-free) clients can utilize the exclusion for educational expenses under the tax code and free up their annual exclusion gifts for rich travel experiences.”

America’s Top Advisors

Travel Beyond has assembled a highly-regarded team of independent legal and wealth management advisors from Grandchamp, Guyette & Cronin, PLLC and the UBS — Koch Cherne Wealth Management Group. Each advisor understands the unique complexities of creating a Travel Trust™ and will provide peace of mind by helping counsel clients through the process.

“There are many considerations when setting up a Travel Trust™,” said Paul Koch, partner, UBS Koch Cherne. “By developing a plan based on the family’s short- and long-term needs, we can uncover tremendous financial opportunities. There are a lot of families traveling with kids and grandkids right now who are missing out on great tax and investment benefits they could be receiving.”

Work With Your Own Advisors

If you prefer to work with your own advisors to design a Travel Trust™ you can purchase Travel Beyond’s “Guide to Travel Trust Planning,” which will provide helpful information along with a Trust Planning Checklist and Drafting Tips.

To get started on your Travel Trust™ contact Jim Bendt at Travel Beyond or call (800) 876-3131.


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About Travel Beyond

Travel Beyond is a Minnesota based travel consultancy specializing in world travel, cruises and safaris.   Since 1975, they have been carefully honing their knowledge around interesting and unique destinations.  Today, Travel Beyond explores new and different places an average of six months out of the year. Their consultants meticulously screen destinations and build special relationships to ensure clients have the most amazing experience possible. To learn more, visit TravelBeyond.com or call toll-free 800-876-3131 to speak directly with a Travel Beyond consultant.

About Grandchamp, Guyette & Cronin, PLLC

The Business and Estate Planning Group at Grandchamp, Guyette & Cronin, PLLC, is a well-established team of attorneys with deep expertise in trust planning.  They work with families of wealth, closely-held businesses and entrepreneurs on simple to sophisticated planning.  It is their mission to help clients identify a legal structure that supports these purposes.  Margaret Cronin, a founding partner of Grandchamp, Guyette & Cronin, PLLC is one of the leading minds in estate planning. To learn more, visit GGCLawyers.com

About UBS Koch Cherne Wealth Management Group

Paul Koch and Douglas Kottke of The Koch Cherne Wealth Management Group work to preserve and grow their client’s wealth while becoming their most trusted advisor and wealth manager.  They believe wealth management encompasses more than traditional investing. As a leading wealth management team, they implement a holistic approach to help families manage their entire financial lives.  Emphasizing customized asset allocation, objective investment advice, comprehensive financial planning and lending, they assist their clients in achieving their financial goals.  To this end, they concentrate on developing quality long-term relationships with a commitment to superior client service. To learn more, visit UBS.com/team/KochCherne