For those clients with estates in excess of the exemption from the federal estate tax, it is critical to implement strategies to minimize estate taxes beyond the use of an A-B or A-B-C trust.
We are proficient in planning estates that employ one or more of the following advanced strategies:
- Creation of fractionalized ownership of assets through family limited partnerships, limited liability companies, corporations, and tenancies-in-common
- Grantor retained annuity trusts (GRATs) and grantor retained unitrusts (GRUTs)
- Qualified personal residence trusts (QPRTs)
- Sale of remainder interests
- Sale to intentionally defective grantor trusts (IDGT)
- Self-canceling installment notes (SCINs)
- Qualified domestic trusts (QDOTs)
- Irrevocable life insurance trusts (ILITs)
- Dynasty (generation skipping) trusts
- Charitable remainder trusts, charitable lead trusts, and private foundations
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