Create estate tax savings by giving a minority interest in your business to family members. For estate tax purposes the value of a minority interest in a closely held business is often discounted 30% to 40% due to the lack of marketability and lack of management control.
Tax Loophole. Buy life insurance and have the policy be in the name of a trust instead of in your own name. Benefit: Upon your death, the proceeds from the life insurance are not included in your estate for estate tax purposes.