Navigating estate planning can be especially complex for individuals with substantial or diversified assets. Standard wills and basic trusts may not offer enough protection or tax efficiency for your estate, which is where advanced estate planning strategies come in. These techniques help you minimize taxes, safeguard wealth, and ensure your assets pass efficiently to the next generation.
At Weiner Law Group, we understand that no two estates are alike. Since 1988, our firm has helped individuals and families in New Jersey implement sophisticated legal solutions to protect their legacies. We are ready to guide you through advanced estate planning.
Why Use Advanced Estate Planning Strategies?
Traditional estate planning tools offer a solid foundation, but advanced strategies go further by addressing unique challenges related to high-value or complicated estates, for example, issues like:
- Business ownership,
- Real estate in multiple states,
- Blended family relationships, or
- International assets and beneficiaries.
Many, but not all, advanced estate planning strategies take advantage of trusts’ flexibility. Trusts can be revocable or irrevocable, offering asset protection and tax benefits, and serve many different purposes.
Benefits of Estate Planning Strategies for High Net Worth Estates
By using estate planning strategies for high net worth tailored to your particular needs, you may:
- Reduce how much of your estate will go to taxes,
- Protect assets,
- Provide cash to cover estate taxes or debts,
- Receive payments during your lifetime while strategically benefitting loved ones,
- Generate tax deductions and defer or spread out taxes,
- Support causes important to you while still benefiting from your assets,
- Provide for multiple future generations, and
- Better control how and when beneficiaries receive assets.
Proactive planning lets you structure your estate to align with your values and financial objectives while avoiding unnecessary legal stresses for your loved ones.
Estate and Gift Taxes and Estate Planning Tax Strategies
While New Jersey does not have an estate tax, the federal government imposes an estate and gift tax. That tax applies to transfers of wealth during your lifetime (gift tax) and at death (estate tax).
Estate Lifetime Exemption 2025
Estate and gift taxes share a single lifetime exemption amount—the total amount you can give away without owing estate or gift taxes. As of 2025, the lifetime exemption is approximately $14 million per individual, and you give up to $19,000 per person per year without contributing to the lifetime exemption.
Amounts above these values are your taxable estate, subject to the estate and gift tax. Estate planning tax strategies help reduce or even avoid that tax burden.
8 Advanced Estate Planning Strategies
Anyone in need of advanced estate planning should consider the following strategies.
1. Grantor Retained Annuity Trusts (GRATs)
Grantor Retained Annuity Trusts (GRATs) can pass assets you expect to appreciate in value to beneficiaries with minimal gift tax consequences. To use a GRAT, you transfer assets into a trust but retain the right to receive fixed annuity payments out of the GRAT appreciation for a set term. After the annuity term ends, any remaining appreciation passes to your beneficiaries.
2. Spousal Lifetime Access Trusts (SLATs)
Spousal Lifetime Access Trusts (SLATs) allow you to gift assets to an irrevocable trust for your spouse’s benefit. SLATs are not part of your taxable estate, but since your spouse receives payments, you retain indirect access to the assets.
3. Qualified Personal Residence Trusts (QPRTs)
Qualified Personal Residence Trusts (QPRTs) allow you to remove your home from your taxable estate while continuing to live there for a period of years. To use a QPRT, you transfer your home into a trust, retaining the right to live in it for a set term. At the end of the term, ownership transfers to your beneficiaries. If you survive the term, the value of the gift—the home—locks in, so future increases in the home’s value do not affect estate taxes.
4. Dynasty Trusts
Dynasty Trusts preserve wealth for multiple generations. To use a Dynasty Trust, you create a long-term trust that holds and manages assets for your descendants. The trust continues across generations without being subject to estate taxes each time assets pass to the next heir.
5. Intentionally Defective Grantor Trusts (IDGTs)
Intentionally Defective Grantor Trusts (IDGTs) are a powerful estate planning tool that involves transferring assets to an irrevocable trust structured so that you remain responsible for paying its income taxes. This “defect” is intentional—it helps reduce your overall estate while allowing trust assets to grow undiminished by income taxes. Yet, the trust is a separate entity for estate tax purposes. So, trust assets grow in value while you reduce your taxable estate by continuing to make income tax payments.
6. Irrevocable Life Insurance Trusts (ILITs)
Irrevocable Life Insurance Trusts (ILITs) remove life insurance proceeds from your taxable estate, which is especially valuable for individuals with large insurance policies. To use an ILIT, you create a trust and transfer ownership of your life insurance policy into it. Upon your death, the proceeds go into the trust, which distributes the proceeds without those proceeds becoming part of your estate for tax purposes.
7. Charitable Remainder Trusts (CRTs)
A Charitable Remainder Trust (CRT) allows you to support a charitable cause while receiving income from your assets during your lifetime. To use a CRT, you transfer assets into a trust. Then, you or another beneficiary receive income for a period of time, after which the remaining assets go to a designated charity. CRTs are well-suited for those who want to blend philanthropy with financial planning.
8. Family Limited Partnerships (LPs) and Limited Liability Companies (LLCs)
If you have a business, family limited partnerships (LPs) and family limited liability companies (LLCs) allow you to consolidate and manage assets while promoting control, tax savings, and asset protection. To use these strategies, you create an LP or LLC and transfer assets to it.
By structuring the business carefully, you can maintain control while giving limited interests to family members. When you transfer those interests, you may apply valuation discounts—reductions in the appraised value for tax purposes.
Let Weiner Law Group Help Secure Your Legacy
Advanced estate planning is more than just legal paperwork. It is a thoughtful process that requires technical skill, attention to detail, legal knowledge, and a deep understanding of your unique situation. At Weiner Law Group, we work closely with you to create custom strategies that reflect your values, reduce your tax burden, and protect what matters most. Contact Weiner Law Group today by calling us at 973-403-1100 or filling out our secure contact form. Together, we can build your lasting legacy.