As we have previously posted here and here, this is a golden age for transferring wealth. The combination of depressed asset values, historically low interest rates, and hefty gift tax exemption make this the ideal time to distribute wealth to lower generations. 
This recent Wall Street Journal article lists several strategies to take advantage of this opportune time to transfer wealth: http://goo.gl/jGUqq. As we noted in our post back in February, GRATs and valuation discounts are your allies in transferring wealth. Both of these techniques have been examined by Congress as tax “loopholes ” that may be closed in the future. As always, the message remains to act now while the tax laws and current economic climate are unusually favorable. We can only be sure that this offer lasts through 2012.
Nevada Estate Planning and Probate 