Secret Family Estate Planning Tips You Can't Ignore
Advanced Estate Planning Strategies
For those with significant assets, advanced estate planning strategies can offer additional benefits. These may include:
Irrevocable Life Insurance Trusts (ILITs): These trusts can remove life insurance proceeds from your taxable estate, potentially saving significant amounts in estate taxes2.Charitable Remainder Trusts (CRTs): CRTs allow you to donate to charity while receiving income during your lifetime and reducing your taxable estate3.Family Limited Partnerships (FLPs): FLPs can be used to manage family-owned businesses and transfer ownership interests to heirs at a reduced tax cost4.
