How to Transfer Wealth to Family Without Unnecessary Tax

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Transferring wealth to family without triggering unnecessary taxes often involves using annual gift exclusions, funding life insurance policies, or setting up trusts like a GRAT or SLAT. The key is starting early and leveraging the current exemption amounts before they potentially sunset. Many people overlook simply paying for a grandchild's education or medical expenses directly, which also avoids gift tax complications. Consulting an estate attorney helps tailor a plan that fits your specific…