Estate Planning introduces the tax planner to unique wealth transfer strategies. This gives the practitioner a model succession plan to assist the next generation in receiving both business and nonbusiness assets with the lowest possible tax cost. Estate Planning is an authoritative guide to asset-protection techniques, including: the use of wills; living trusts; gifts in trust; insurance trusts; estate and gift tax returns; gifts of purchases of stock; financial planning for retirement; family estate plans; discount valuation of intrafamily gifts of minority interest in a closely held family business context; LLCs; like kind exchanges; and the use of charitable transfers. It will guide you thought the possible sunset of the estate tax in 2010, the far-reaching effects of EGTRRA 2001, JGTRRA 2003, TIPRA, and the Pension Protection Act of 2006.

The book look closely at techniques to help estate- and gift-plan a business to preserve business strategies, enable designees to continue and grow the business, and provide for the owner or spouse using such tools as Famili Limited Partnership (FLPs) and Business Continuity Living Trusts.

It also provides many easy-to-adapt clauses, sample documents and checklists, including a goals and objectives questionnaire, forms for gifts of a life estate to a spouse, irrevocable minor's trusts, survivorship life insurance trust, standard will clauses, and complete wills with alternative clauses.