4min chapter

The Fort - An Entrepreneurship Podcast cover image

#292 - Ryan Heath - Founding Attorney @ Baker Heath, PLLC - Estate Planning 101

The Fort - An Entrepreneurship Podcast

CHAPTER

How to Incentivize Your Kids to Live by Your Trust

The key for now is to use all of your state tax exemption. Then there are things like grats, which is a grant or retained annuity trust. It basically pays you the amount you put in, but all the growth goes into this trust that's outside of your state. And so unless you want to leave things to charity, whatever you have left and the growth on it is going to be subject to a state tax.

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