Intermediate Estate Planning
Generally, intermediate estate planning would apply if your estate
is reasonably expected to be subject to estate taxes. Intermediate
estate planning focuses on transferring assets or reducing the value
of assets that would otherwise be included in your estate to minimize
your estate tax liability. The tools and techniques used in intermediate
estate planning involve all of the elements of basic estate planning,
along with the coordination of other more sophisticated tools. Some
of these include:
- Coordination of the marital deduction and unified credit
- Coordination of testamentary and non-testamentary distribution
of assets, such as beneficiary designations and joint accounts
- Gifting plans and lifetime transfers
- Using testamentary and irrevocable trusts
Documents prepared in this area might include the basic documents
with special provisions that create a Bypass Trust or Credit Shelter
Trust, an Irrevocable Life Insurance Trust, and others from the
Basic and Complex
planning areas. |