Whether wealth is passed by gift or at death, through wills or trusts, it should be protected.

Most individuals understand their $1,500,000 ^1/ ($3,000,000 if married) exemption, but fail to effectively use their $1,500,000 ^2/ ($3,000,000 if married) ^3/ after tax, or GST exemption. The GST exemption is the most powerful exemption we have.

All wealth that passes, however, should be protected from divorce risks, the risk that on a child or grandchild's death that their spouse's will elect to take against your child or grandchild's will (and your assets), the risk of creditor attack, and further taxation.

Smart wealth is transferred using trusts that offer an umbrella of protection, but with control in the hands of the child or grandchild, or whomever you wish.

^1/ Growing to $3,500,000 by the year 2009.
^2/ $1,500,000 as of year 2004, and increasing.
^3/ $3,000,000 as of year 2004, and increasing.