Beyond the Living Trust
Advanced forms of wealth transfer and estate planning are more complicated, and consequently more expensive to implement. However, their costs and complexity are almost always dwarfed by the tax savings, and capital preservation, they achieve. On January 1, 2011, the estate tax exemption increased to $5,000,000, meaning that a married couple can now pass $10,000,000 to their heirs estate-tax free by the simple expedient of establishing a fully tax-planned living trust. Coupled with the probate-avoidance features of a living trust, everyone should have a living trust where an estate of any substantial size is involved.