In this issue:

- Net Gain For Taxpayers – Tax Court Approves Net Gift Strategy

- Estate Planning For The Young And Affluent – How To Hedge Your Bets

- Wealth Preserver – Use An ILIT To Shield Life Insurance Proceeds From Estate Tax

- Estate Planning Red Flag – Your Spouse’s Estate Didn’t Make The Portability Election

- Excerpt from Net Gain For Taxpayers – Tax Court Approves Net Gift Strategy:

A net gift is a technique that potentially allows you to reduce your effective gift tax rate from 40% to 28.6%. It requires the donee to agree to pay the gift tax as a condition of receiving the gift. This reduces the gift’s value for gift tax purposes.