American Academy of Estate Planning Attorneys - Top Ten Estate Planning Techniques - AAEPA

Top Ten Estate Planning Techniques


Learn about the latest techniques in estate planning and use them to protect your wealth.

  1. Revocable Living Trust:
    Device used to avoid probate and provide management of your property, during life and after death.

  2. Property Power of Attorney:
    Instrument used to allow an agent you name to manage your property if you become incapacitated.

  3. Health Care Power of Attorney:
    Instrument used to allow a person you name to make health care decisions for you should you become incapacitated.

  4. $12,000 Annual Gift Tax Exclusion:
    Technique to allow gifts without the imposition of estate or gift taxes.

  5. Irrevocable Life Insurance Trust:
    A trust used to prevent estate taxes on insurance proceeds received at the death of an insured.

  6. Family Limited Partnership:
    An entity used to: 1) provide asset protection for partnership property from the creditors of a partner, 2) provide protection for limited partners from creditors, 3) enable gifts to children but parents maintain day-to-day management control, and 4) reduce transfer tax value of property.

  7. Children's or Grandchildren's Irrevocable Education Trust:
    A trust used by parents and grandparents for a child's or grandchild's education.

  8. Charitable Remainder Interest Trust:
    A trust whereby donors transfer property to a charitable trust and retain an income stream from the property transferred. The donor receives a charitable contribution income tax deduction, and avoids capital gains tax on transferred property.

  9. Fractional Interest Gift:
    Allows a donor to transfer partial interests in real property to donees and obtain fractional interest discounts for estate and gift tax purposes.

  10. Private Foundation:
    An entity used by higher wealth families to receive any otherwise taxable property so as to eliminate estate taxes on the death of a surviving spouse.

Dennis Sandoval and Steve Hartnett are very patient when helping me understand complex concepts ... and they hang in there with me until I get it.”

Randy H. — Utah Member