For people with assets in excess of $1 million, part of their estate plan should include steps to avoid or reduce Federal Estate Tax. This means taking full advantage of the exemption from Federal Estate Tax through Wills or Revocable Living Trusts with Credit Shelter Trust provisions.

If that is not sufficient to eliminate exposure to Federal Estate Tax, it may be appropriate to consider some of the more advanced estate planning techniques. These include Charitable Planning techniques, as well as Family Limited Partnerships, Sales to Grantor Trusts, Grantor Retained Annuity Trusts, Grantor Retained Unitrusts and Qualified Personal Residence Trusts.

Our Estate Planning attorneys can help you determine whether any of these tools would be appropriate for your situation and to implement any that you decide to do.