Saving Estate and Gift Taxes
If you have a sizable estate you may be able to save considerable transfer taxes, estate and gift taxes, if you’re cautious about it. You really should speak with a tax lawyer who understands the estate tax, the gift tax, and the generation skipping tax, that taxes transfers to a more generations below you, grandchildren. But be mindful. There’s certain educational exemptions and there’s also annual exemptions or exclusions that are important. You literally can save thousands and thousands of dollars in transfer taxes with the right planning.