Legal Question in Wills and Trusts in California

Saving death tax

If an estate, in a living trust, leaves $17 million, less the $2 mil bypass gift exclusion, then $15mil is left, of which 55% goes to the estate tax, apprx. $8 mil,

what can be done to save the

$8 mil from the tax.


Asked on 6/12/08, 11:13 am

3 Answers from Attorneys
Jonas Grant Law Office of Jonas M. Grant, A.P.C.

Re: Saving death tax

In addition to the other answers, note that charitable gifts at (if planned for and/or permitted by the trust/will) or before death also reduce the size of the taxable estate.

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Answered on 6/20/08, 10:08 pm
Frankie Woo Fiducia Legal

Re: Saving death tax

If the settlor is already deceased, it may already be to late to do anything. The estate could have saved a few million with an ILIT (irrevocable life insurance trust) or some other tax savings vehicles.

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Answered on 6/12/08, 12:34 pm
Mitchell Roth MW Roth, Professional Law Corporation

Re: Saving death tax

If the death has already occurred - then nothing. If the wealthy person has time and a desire to plan to save the tax, plenty.

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Answered on 6/12/08, 12:50 pm


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