Top 10 Estate Planning Techniques

  1. $13,000 Annual Gift Tax Exclusion:

    Technique to allow gifts without the imposition of estate or gift taxes.
  2. Charitable Remainder Interest Trust:

    A trust whereby donors transfer property to a charitable trust and retain an income stream from the property transferred. The donor receives a charitable contribution income tax deduction, and avoids a capital gains tax on transferred property.
  3. Children's or Grandchildren's Irrevocable Education Trust:

    A trust used by parents and grandparents for a child's or grandchild's education.
  4. Family Limited Partnership:

    An entity used to:
    1. Provide asset protection for partnership property from the creditors of a partner
    2. Provide protection for limited partners from creditors
    3. Enable gifts to children and parents maintaining management control
    4. Reduce transfer tax value of property.
  5. Fractional Interest Gift:

    Allows a donor to transfer partial interests in real property to donees and obtain fractional interest discounts for estate and gift tax purposes.
  6. Health Care Power of Attorney:

    Instrument used to allow a person you name to make health care decisions for you should you become incapacitated.
  7. Irrevocable Life Insurance Trust:

    A trust used to prevent estate taxes on insurance proceeds received at the death of an insured.
  8. Private Foundation:

    An entity used by higher wealth families to receive any otherwise taxable property so as to eliminate estate taxes on the death of a surviving spouse.
  9. Property Power of Attorney:

    Instrument used to allow an agent you name to manage your property if you become incapacitated.
  10. Revocable Living Trust:

    A device used to avoid probate and provide management of your property, during life and after death.

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