Discussion: "The Wealth Transfer Decision"
Respond to the following:
Imagine that you are an estate planner and a friend is seeking advice regarding leaving property to his children. He has accumulated approximately $10 million of property that he would like to leave to his children. However, there is a concern that the estate taxes will absorb most of these funds. Develop a wealth-transfer plan that would minimize the tax consequences to the donees. Provide specific recommendations.