More and more often estate plans are extending over several generations to achieve optimum use of available exemptions and planning opportunities. We pay taxes all of our lives and accumulate wealth, which we often characterize as our principal. Federal and state income, excise, sales, property, and other taxes directly impact our ability to accumulate this principal. At death, an unexpected tax on this accumulated principal is imposed by federal and state governments to prevent us from giving this principal to our heirs. When combined, these taxes can result in a total tax exceeding 69% of the income we earn over our lifetimes. This occurs, however, not only in ours, but our children's, grandchildren's, etc., generations. Sadly, few people use exemptions that are available to avoid some, if not all, of these taxes.

"Money can do more damage than good".... "You really never know someone until you share an inheritance with them".... "The vast majority of estate and tax plans of people today waste various tax exemptions and expose wealth to reach by non-family members".... These common quotes clearly describe the experiences of some, and how deficient estate plans can adversely impact the preservation of our traditional wealth and values.

Trusts are often the heart of a family's estate plan. Other vehicles and techniques, however, also exist. A trust can preserve tax exemptions, foster the preservation of family values, and achieve an umbrella of asset protection over several generations of accumulated wealth. Other entities and techniques, however, may be used in conjunction with trusts to promote both income and estate tax savings, management, and organizations of a family's estate plan - a plan that can completely and comprehensively serve the long-term legal and tax reduction objectives of a family, while promoting the preservation of family wealth and values.