GROW · VOLUME 2 OF 3 · STRATEGIESEstate and legacy shelf
Legacy & Philanthropy Planning
The strategies book on estate and legacy. It covers the documents every plan rests on, how to keep assets out of probate, how the 2026 federal gift and estate tax and the step-up in basis really work, tax-smart ways to give to charity and invest by your values, and how families govern shared wealth and prepare the next generation to receive it.
Chapters7
Reading time45 min
Worked examples10
Updated2026-10-01
What you will be able to do
- Name the documents you need for death and incapacity, and check that your beneficiary forms match your will.
- List which of your assets would go through probate and choose a way to move each one outside it.
- Judge whether federal or state estate tax could apply to you, and when giving an asset away during life costs more than leaving it at death.
- Compare bunching, gifts of appreciated shares, qualified charitable distributions and charitable trusts for your own giving.
- Set up family meetings, a written decision process, and accounts that let children practice with real money.
Contents
7 CHAPTERS · ABOUT 45 MIN- 01Wills, Guardians and the Documents Every Plan Needs What happens without a will, what a good will contains and cannot do, why beneficiary forms often matter more, and the powers of attorney and health care documents that cover incapacity.7 min
- 02Avoiding Probate with Beneficiary Designations and Living Trusts What probate costs and why it varies by state, the property that already passes outside it, the limits of joint ownership and beneficiary forms, and how to set up and actually fund a revocable living trust.7 min
- 03Gifts, Estate Tax and Passing Wealth Across Generations How the 2026 federal gift and estate tax works, portability and state estate taxes, gifts that never count, moving growth out of an estate, the step-up in basis, and dynasty and life insurance trusts.8 min2 computed
- 04Giving to Charity Tax-Efficiently How the charitable deduction works under the 2026 rules, bunching gifts through a donor-advised fund, giving appreciated shares, qualified charitable distributions after 70½, and charitable trusts and foundations.7 min3 computed
- 05Investing in Line with Your Values The difference between exclusion, ESG, thematic, engagement and impact investing, what is known about their returns, how to check a fund and its fees, and how to write values into trusts and family giving.6 min1 computed
- 06Family Governance, Family Offices and a Lasting Legacy Why inherited wealth fades, how to pass on values as well as assets, the meetings, charters and decision rules families use as they grow, and when a single-family or multi-family office makes sense.6 min2 computed
- 07Preparing the Next Generation What research says about teaching money, a stage-by-stage plan from early childhood to adulthood, custodial Roth IRAs, custodial accounts and 529 plans, and how to prepare an heir to receive wealth.6 min2 computed
CALCULATORS USED IN THIS BOOK