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[quote=Anonymous]We have a very high net worth, in the high 8 figures all from hard work, saving from an early age and investing smartly. My husband led the turnaround of two companies and equity was a big part of his compensation. Our lifestyle is not "ultra" but likely consistent with someone with a net worth of $20M so it's pretty darn nice. Our married adult children are all very successful on their own and we didn't gift them anything until they were in their early 30's. Yes, we did pay for their educations which is a big gift. Now we fund nice annual gifts plus we have set up 529's for all of their children and that funding took place soon after birth. We have set up irrevocable trusts that are generation skipping so the majority of the principal will go to our grandchildren and their children. Our kids will benefit from annual interest and dividends and be very helpful for their retirements. With the high lifetime exemption continuing and growing next year to $15M we will likely stop putting money into the trusts and just straight gift the annual increases to our kids since they won't get principal from the trusts unless needed. Finally, a big percent of our NW is in a charitable trust and when we die what ever is left over in our estate (e.g. sales of homes) will go into that trust which will then be managed by our children. The goal is to avoid any estate taxes. Other than the trusts we have avoided complex estate planning which is all designed by expensive lawyers to avoid taxes. Giving it to charity will help us do that. Making all of this easy is that our kids are great, succeeding on their own, are best friends and really work hard to succeed on their own as we did.[/quote]

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