Estate Planning for the Ultra Wealthy: Explore 81 Lessons across 16 Topics

High-Net-Worth Client Profile Assessment

• Conducting a Comprehensive Financial Review
• Understanding Client's Personal and Family Goals
• Evaluating Philanthropic Intentions
• Assessing Risk Tolerance and Liquidity Needs
• Identifying Potential Estate Tax Exposure
• Understanding International Assets and Obligations
• Test Your Knowledge: High-Net-Worth Client Profile Assessment

Charitable Planning: Charitable Lead Annuity Trust (CLAT) vs. Charitable Lead Unitrust (CLUT)

• Examples of When to Use Charitable Lead Annuity Trust (CLAT) vs. Charitable Lead Unitrust (CLUT)
• Tradeoffs of Charitable Lead Annuity Trust (CLAT)
• Tradeoffs of Charitable Lead Unitrust (CLUT)
• Example: Funding a Charitable Lead Annuity Trust (CLAT) with $10M in Low-Yield Bonds
• Example: Funding a Charitable Lead Unitrust (CLUT) with $10M in a Diversified Stock Portfolio
• Test Your Knowledge: Charitable Planning: Charitable Lead Annuity Trust (CLAT) vs. Charitable Lead Unitrust (CLUT)

Grantor Retained Annuity Trust (GRAT) vs. Intentionally Defective Grantor Trust (IDGT)

• Examples of When to Use Grantor Retained Annuity Trust (GRAT) vs. Intentionally Defective Grantor Trust (IDGT)
• Tradeoffs of Grantor Retained Annuity Trust (GRAT)
• Tradeoffs of Intentionally Defective Grantor Trust (IDGT)
• Example: Funding a Grantor Retained Annuity Trust (GRAT) with $5M in Rapidly Appreciating Stock
• Example: Selling $5M in Appreciating Real Estate to an Intentionally Defective Grantor Trust (IDGT) in Exchange for a Promissory Note
• Test Your Knowledge: Grantor Retained Annuity Trust (GRAT) vs. Intentionally Defective Grantor Trust (IDGT)

Dynasty Trusts vs. Family Limited Partnerships (FLP)

• Examples of When to Use Dynasty Trusts vs. Family Limited Partnerships (FLP)
• Tradeoffs of Dynasty Trusts
• Tradeoffs of Family Limited Partnerships (FLP)
• Example: Funding a Dynasty Trust with $20M to Benefit Descendants for Multiple Generations
• Example: Transferring $15M in Family Business Interests to a Family Limited Partnership (FLP), Gifting Discounted Partnership Interests to Family Members
• Test Your Knowledge: Dynasty Trusts vs. Family Limited Partnerships (FLP)

Private Placement Life Insurance (PPLI) vs. Charitable Remainder Trusts (CRT)

• Examples of When to Use Private Placement Life Insurance (PPLI) vs. Charitable Remainder Trusts (CRT)
• Tradeoffs of Private Placement Life Insurance (PPLI)
• Tradeoffs of Charitable Remainder Trusts (CRT)
• Example: Investing $10M in a Private Placement Life Insurance (PPLI) Policy
• Example: Funding a Charitable Remainder Trust (CRT) with $10M in Appreciated Stock
• Test Your Knowledge: Private Placement Life Insurance (PPLI) vs. Charitable Remainder Trusts (CRT)

Asset Protection Trusts (APT) vs. Foreign Grantor Trusts (FGT)

• Examples of When to Use Asset Protection Trusts (APT) vs. Foreign Grantor Trusts (FGT)
• Tradeoffs of Asset Protection Trusts (APT)
• Tradeoffs of Foreign Grantor Trusts (FGT)
• Example: Transferring $5M in Liquid Assets to an Offshore Asset Protection Trust (APT)
• Example: Creating a Foreign Grantor Trust (FGT) for $5M in Foreign Investments
• Test Your Knowledge: Asset Protection Trusts (APT) vs. Foreign Grantor Trusts (FGT)

Spousal Lifetime Access Trust (SLAT) vs. Qualified Personal Residence Trust (QPRT)

• Examples of When to Use Spousal Lifetime Access Trust (SLAT) vs. Qualified Personal Residence Trust (QPRT)
• Tradeoffs of Spousal Lifetime Access Trust (SLAT)
• Tradeoffs of Qualified Personal Residence Trust (QPRT)
• Example: Funding a Spousal Lifetime Access Trust (SLAT) with $10M in Investments
• Example: Transferring a $5M Primary Residence to a Qualified Personal Residence Trust (QPRT)
• Test Your Knowledge: Spousal Lifetime Access Trust (SLAT) vs. Qualified Personal Residence Trust (QPRT)

International Planning: Dual Situs Trust vs. Expatriation

• Examples of When to Use Dual Situs Trust vs. Expatriation
• Tradeoffs of Dual Situs Trust
• Tradeoffs of Expatriation
• Example: Creating a Dual Situs Trust for $10M in Assets Located in the U.S. and Europe
• Example: Advising a Client with $50M in Assets to Expatriate, Considering the Long-Term Tax Benefits
• Test Your Knowledge: International Planning: Dual Situs Trust vs. Expatriation

Philanthropic Strategies: Private Foundation vs. Donor-Advised Fund (DAF)

• Examples of When to Use Private Foundation vs. Donor-Advised Fund (DAF)
• Tradeoffs of Private Foundation
• Tradeoffs of Donor-Advised Fund (DAF)
• Example: Establishing a Private Foundation with $20M
• Example: Contributing $10M to a Donor-Advised Fund (DAF)
• Test Your Knowledge: Philanthropic Strategies: Private Foundation vs. Donor-Advised Fund (DAF)

Special Situations: Intra-Family Loans vs. Sale to Grantor Trust

• Examples of When to Use Intra-Family Loans vs. Sale to Grantor Trust
• Tradeoffs of Intra-Family Loans
• Tradeoffs of Sale to Grantor Trust
• Example: Lending $5M to a Family Member at the Applicable Federal Rate (AFR)
• Example: Selling $10M in Appreciating Stock to a Grantor Trust in Exchange for a Promissory Note
• Test Your Knowledge: Special Situations: Intra-Family Loans vs. Sale to Grantor Trust

Review and Maintenance of High-End Plans

• Regularly Reviewing and Updating Plans
• Ensuring Compliance with International Regulations
• Continuously Educating Clients on New Strategies
• Hosting Seminars or One-on-One Sessions to Update Ultra-Wealthy Clients
• Conducting Annual Estate Plan Reviews
• Test Your Knowledge: Review and Maintenance of High-End Plans

Tax Shelters and Deferral Strategies

• Using Offshore Trusts for Tax Deferral
• Establishing Captive Insurance Companies
• Utilizing 1031 Exchanges for Real Estate
• Creating and Using Private Placement Life Insurance (PPLI) Policies
• Deferred Compensation Plans for Executives
• Test Your Knowledge: Tax Shelters and Deferral Strategies

Retirement and Pension Planning

• Maximizing Contributions to Retirement Accounts
• Roth IRA Conversions and Strategic Considerations
• Setting Up and Managing Defined Benefit Plans
• Using Qualified Charitable Distributions from IRAs
• Managing Required Minimum Distributions (RMDs)
• Test Your Knowledge: Retirement and Pension Planning

Insurance and Risk Management

• Life Insurance Strategies for Wealth Transfer
• Long-Term Care Insurance for Estate Protection
• Umbrella Liability Insurance for Asset Protection
• Using Annuities for Income and Tax Deferral
• Reviewing and Updating Insurance Policies Regularly
• Test Your Knowledge: Insurance and Risk Management

Real Estate Planning

• Transferring Real Estate Through Trusts
• Using Qualified Personal Residence Trusts (QPRTs)
• 1031 Exchanges for Deferring Capital Gains
• Creating Family Limited Partnerships (FLPs) for Real Estate
• Planning for Vacation Homes and Secondary Residences
• Test Your Knowledge: Real Estate Planning

Business Succession Planning

• Creating Buy-Sell Agreements
• Valuing the Business for Estate Planning
• Using Family Limited Partnerships (FLPs)
• Transferring Business Interests to Heirs
• Planning for Key Person Insurance
• Test Your Knowledge: Business Succession Planning

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