Thoughtful estate and gift planning helps you preserve your wealth and pass it on to your designated beneficiaries in the manner you choose. There are many potential objectives, both financial and nonfinancial, to consider in the estate planning process. Because these are likely to evolve over time, it makes sense to review your estate plan periodically.
Read our chapter on Estate and gift planning
Estate and gift planning, done right, evolves over time to reflect your changing goals and circumstances.
You can give individual gifts of up to $13,000 to any number of people annually without having to pay a gift tax. There is also an unlimited gift and GST tax exclusion for any tuition paid directly to a school on someone else’s behalf.
A grantor retained annuity trust works best with assets that are likely to appreciate rapidly. The higher the rate of return on trust assets, the greater the amount that will go to the GRAT beneficiaries free of gift tax.
