Our government taxes us when we die; it’s true and it’s called the Estate Tax. It really doesn’t seem fair. We work hard all are lives paying our taxes just like very other good citizen. But we can still get hit with the dreaded estate tax.

The Estate Tax is a double taxation in the sense that it’s taxing monies that have already been taxed once before. It doesn’t seem real fair does it? We’ll there are many ways to avoid it, even if you’re in a higher Tax Bracket.

Unfortunately, the common man that doesn’t think to do estate planning ends up with the biggest cost. The wealthy find ways and loopholes to avoid this not so popular form of taxation. That’s why some refer to it as the ‘Volunteer Tax.’ If you do the proper planning you won’t have to pay the estate tax regardless of your tax bracket.

Some of the techniques to consider when doing your estate plan can be simple. Utilizing gifting options to remove funds form your estate is one of the most popular. By gifting money to your heirs before your death you’re able to remove those funds form your estate eliminating the government form taxing it twice. You can gift a rather large amount of money utilizing this technique.

Many families utilize life insurance to fund for estate tax and other expenses. Life insurance proceeds are free from taxation. For a rather small outlay large death benefits can be bequeathed. These life insurance proceeds are non taxable even if there maybe large capital gains.

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