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What if Santa and Mrs. Claus decided to make an estate plan? Although they would doubtless be great clients, the existent program could be a challenge.

What is the size of the Claus estate? It is extremely hard to calculate, even for Mr. and Mrs. Claus. Their accountant merely shrugs when asked. For the adjacent few old age at least, estate tax will be a killer. Santa’s toymaking business is prospering. He have enough stock list to provide every kid on Earth with at least one plaything each year. There are now over 6 billion people on earth, and if just half of those are children, and if Santa passes just $20 on each child, he is disbursement 60 billion dollars per twelvemonth on Christmastide gifts alone. Apparently this formal gifting programme is not reducing the size of his estate nor his tax liabilities sufficiently since he’s continued to make this since the 4th century.

Another consideration for Santa’s estate program will be caring for the 100s of elves that work in his stores and are apparently totally dependent on his largess for survival. There are no known relations to function as defenders in the event of Santa and Mrs. Claus’s joint demise. And even if relations can be tracked down, it is dubious that they will have got the wherewithal to care for so many dependents. We might desire to see starting a charitable organisation that set ups homes, jobs, and caretakers for these charming small people.

Santa have also invested a batch of time, money, and love in his wild animate being preserve. Besides the normal elk, caribou, and polar bears, Santa have successfully bred a alone species of flying caribou and at least one with a light-emitting snout. It’s likely that respective human race menageries will be clamoring to add these animate beings to their collection, but it would be advisable for Santa and Mrs. Claus to do some of these determinations ahead of time.

Obviously, death isn’t the lone concern for the Clauses. If Santa were to be handicapped by a hit with an aircraft, a autumn from his sled on a fast take-off, Oregon a gun shot lesion from person who errors him as a burglar, the business could be in trouble. Mrs. Claus have had her custody full pickings care of the elves, and hasn’t had a batch of direct engagement with the toymaking. It might be wise to pick some cardinal hob employees from executive director management who can be trained to take over. Perhaps an employee stock ownership plan is appropriate, or a prenegotiated buy-sell agreement. Due to his advanced age (approximately 1600), and the fact that he is fleshy and smokes, life insurance is also improbable – but should not be ruled out because of his overall good wellness and vitality.

One other issue to be considered is citizenship. Although we believe of Santa as an American icon, he was actually born as Saint Nicholas of Myra in Asia Minor – which is now southwestern Turkey. Rumor have it that he met Mrs. Claus while watching the annual tree lighting at Rockefeller Center in New York. If Mrs. Claus is a U.S. Citizen, proper tax planning will necessitate her to at least set up a Qualified Domestic Trust.

Obviously, planning for Santa and Mrs. Claus will be a intimidating undertaking requiring the planner's best efforts. Like Santa, we wish you a “Merry Christmastide to All”, Happy Holidays, and a Happy and Comfortable New Year.