The Moving Target: Planning for Clients with Net Worth Over $11 Million
For clients with a net worth of over $11 million, estate planning is as complicated as ever and, in some cases, more so. For these clients, we must skillfully juggle three interrelated issues: maximizing basis step-up if it turns out estate tax is not a concern; minimizing the value of the gross estate if estate tax remains or is a concern; and whether plans can be easily modified if and when transfer tax laws change (assuming the client is alive when they do change).
Among the most important considerations for these clients are:
- Whether to make gifts and, if so, the most strategic ways to do so
- Clayton QTIPs
- Design and uses of long-term, multi-generational trusts