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​​​​© 2019 by Lara Sass & Associates, PLLC 

 

The information contained on this website is provided for informational purposes only and should not be construed as legal advice on any subject matter.  If you wish to discuss the topics addressed on this website, or other estate planning issues, please contact Lara Sass & Associates, PLLC.

IF YOU WOULD LIKE US TO CONTACT YOU, PLEASE PROVIDE YOUR INFORMATION  BELOW.  Thank you.

CONTACT US * info@laramsass.com * (212) 971-9770

SOPHISTICATED ESTATE

PLANNING TECHNIQUES

Irrevocable life insurance trust (ILIT),
sale to an intentionally defective
grantor trust (IDGT), spousal lifetime
access trust (SLAT), generation-
skipping transfer (GST trust), qualified
personal residence trust (QPRT), 
grantor retained annuity trust 
(GRAT), charitable remainder trust 
(CRAT and CRUT) and charitable lead
trust (CLAT and CLUT)

 

 

Above is a list of sophisticated estate planning techniques that may be used to transfer wealth to beneficiaries, while minimizing estate and gift tax consequences.  These techniques are typically utilized by individuals who are already making use of an optimal marital deduction/unified credit tax formula in a Will or revocable trust agreement.  

 

For high net-worth individuals, it is important to note that, if you have a credit shelter trust as part of your current estate plan, it is recommended that you revisit which exemption amount (Federal or New York) is specified for the funding of the trusts.  The choice of credit shelter trust funding amount could have a significant impact on the overall estate tax burden.  We would be pleased to assist you in analyzing your estate planning documents to determine whether this issue should be addressed.