Abstract
Effective estate planning includes having the proper trust or insurance structure. Trusts can be used to transfer assets to a spouse, make lifetime gifts to family members, or make donations to charitable organizations, but clients must be aware that the different kinds of trusts provide different degrees of control over assets and different levels of transfer cost reduction. Life insurance techniques can also provide a degree of control over assets while providing substantial income tax benefits. And because a variety of trust and insurance forms exist, they need to be carefully examined to ensure the effective transfer of client wealth.
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