Giving: A timeless estate planning strategy
Abstract: Although currently there’s no federal estate tax, it’s scheduled to rear its head again in 2011. Congress is expected to intervene, but no one is certain what changes will or won’t be made. This makes estate planning especially challenging. But, even in this environment, a tried and true strategy to reduce potential estate tax liability is making tax-free — or even taxable — gifts. This article discusses the various giving options available, while a sidebar shows why it can be advantageous to make a taxable gift — though it’s not without some risk.