Finance
Kenton Crabb – Pioneering Tax-Deductible Life Insurance Strategies
Global Banking & Finance Review®
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Kenton Crabb
In the ever-evolving landscape of financial services, few names command the respect and recognition that Kenton Crabb does. With over 25 years of experience, Kenton has not only carved out a niche for himself but has also revolutionized the way business owners approach tax-deductible life insurance strategies. As the creator of the Restricted Property Trust (RPT), Kenton Crabb stands out as a visionary in a field where innovation is often met with scrutiny.
A Career Rooted in Financial Expertise
Kenton Crabb’s career is a testament to the impact of blending deep financial knowledge with creative solutions tailored to complex business needs. As the Vice President of both Destiny Capital Corporation, a Registered Investment Adviser, and Destiny Capital Securities Corporation, a Broker/Dealer, Kenton brings a wealth of expertise to the table. His role on the board of directors of both companies underscores his integral position within these organizations. Kenton’s proficiency in crafting insurance-based solutions for intricate business transactions and estate planning has enhanced the strategic offerings of these institutions, making them leaders in their field.
The Birth of the Restricted Property Trust
Kenton’s most notable contribution to the financial services industry is the creation of the Restricted Property Trust (RPT). In 2000, recognizing a gap in the market for a conservative, non-abusive tax-deductible life insurance strategy, Kenton began focusing exclusively on this niche. Collaborating with a tax law firm in Cleveland, he designed a plan that would stand apart from the potentially abusive strategies that were prevalent across the United States at the time.
The journey wasn’t easy. In the fall of 2007, the IRS issued notices and a revenue ruling that broadly categorized cash value, tax-deductible life insurance strategies as potentially abusive tax shelters. For many in the industry, this could have spelled the end. However, Kenton’s dedication and commitment to ensuring that the RPT was not only compliant but also advantageous for business owners paid off. After completing several rigorous audits, the RPT distinguished itself from other plans, ultimately receiving an IRS workpaper confirming that it was not a listed transaction under IRS Notice 2007-83.
Leading the Way in Corporate Tax-Deductible Life Insurance
Today, Kenton Crabb is regarded as one of the foremost experts on corporate tax-deductible life insurance strategies in the nation. His expertise has been sought by law firms and CPAs across the country, particularly during welfare benefit audits. To maximize the impact of his knowledge, Kenton now serves as the “in-house” Third Party Administrator (TPA) for select financial services organizations, offering the Restricted Property Trust strategy to clients nationwide.
A Life Beyond Finance
While his professional achievements are impressive, Kenton Crabb is also a man who values balance. Residing in Charlotte, North Carolina, with his wife, three daughters, and two dogs, Kenton enjoys a life filled with family, fitness, and sports. His hobbies include working out, playing tennis, and hitting the golf course – pursuits that help him maintain the focus and energy required to lead in the high-stakes world of financial services.
Conclusion
Kenton Crabb’s career is a story of innovation, perseverance, and success. Through his creation of the Restricted Property Trust, he has provided a valuable tool for business owners seeking to mitigate income taxes and appreciate assets. His work continues to influence the financial services industry, setting a high standard for those who follow in his footsteps. For Kenton, the journey is far from over, and his future contributions are sure to leave an even greater impact on the world of corporate finance.
Tax-deductible life insurance is a type of life insurance policy where the premiums paid can be deducted from taxable income, potentially reducing the overall tax burden for the policyholder.
A Restricted Property Trust (RPT) is a financial strategy designed to provide tax-deductible contributions to a life insurance policy while ensuring compliance with tax regulations.
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