Chapter 25: Estate and Gift Tax Planning for Owners and Individuals

This chapter introduces the planning concepts behind estate and gift taxation for individuals and closely held owners. REG generally tests the framework rather than deep transfer-tax calculation, so emphasis should stay on structure, available exclusions, and major planning tools.

In This Chapter

• Estate vs. Gift Tax Systems and the Unified Credit explains how the two systems work together.
• Lifetime Gifting Strategies; Valuation Discounts covers common planning tools for reducing transfer-tax exposure.
• Marital Deductions, QTIP Trusts, and GST Considerations explains major deferral and multigenerational planning devices.
• Charitable Giving and Philanthropic Strategies covers transfer-tax and income-tax planning through charitable structures.

How to Use This Chapter

• Read this chapter when estate and gift tax terminology feels detached from the rest of REG planning content.
• Focus on how the transfer system is structured and what planning device solves which objective.
• Return here when owner-level planning questions involve gifting, marital transfers, or charitable strategies.

In this section

• Estate vs. Gift Tax Systems and the Unified Credit
  Explore the dynamic relationship between estate and gift tax systems, annual exclusions, and portability of the unified credit, with practical examples and best practices.
• Lifetime Gifting Strategies; Valuation Discounts
  Explore family limited partnerships, valuation discounts, and philanthropic giving in lifetime gift tax planning, leveraging strategies to reduce tax burdens and transfer wealth efficiently.
• Marital Deductions, QTIP Trusts, and GST Considerations
  Explore how spousal bequests and generation-skipping transfers can strategically minimize estate taxes, with practical insights on QTIP trusts and GST considerations.
• Charitable Giving and Philanthropic Strategies
  Discover strategies for tax-efficient charitable giving including the use of charitable remainder trusts (CRTs) and donor-advised funds to maximize both philanthropic impact and personal financial benefits.