S ome take a re active rather than a pro active position with their clients. The result is that clients are limited in their options by their own knowledge. A nd some are simply ill equipped to advise their clients effectively. As general practitioners, they haven't the time or inclination to keep up with subtle changes in estate tax law. Now for the good news.
T here are several tools available to minimize or even eliminate estate and gift taxes entirely.
You won't learn about them in any government pamphlet. But qualified advisors can show you how to legally and ethically disinherit the IRS, while addressing common concerns like providing for disabled dependents, managing assets for minor children, and charitable giving. I ncreasingly popular are plans that decide in advance, what percentage of the estate will pass to children, charity, and the government. The Charitable Remainder Trust offers many advantages, including life-time income security, reduced income and estate taxes, plus the opportunity to direct family wealth according to their own values. C haritable Remainder Trust planning is a highly specialized field that encompasses both estate and wealth preservation planning.