We had another great radio program this past weekend with Attorney Eric Oalican of Oalican Law Group. I wasn’t sure if it was possible to make Estate Tax Planning fun, but Eric did it. I guess fun for me is different than fun for most people, but regardless it was an informative and entertaining show. As Eric and I discussed, if your net worth at death is over $1 million in Massachusetts, you will have an estate tax liability. If you want to avoid/minimize/deal with it, there are options. Eric explained (in simple, non-lawyer-y terms) gifting strategies, life insurance strategies, and Credit Shelter Trusts. We even drew some pictures! Eric walked me through how the Credit Shelter (aka “A. B”, aka “Marital/Family”) Trust works, and how it can shelter up to $1m ($2m for a couple) from estate taxes at death. Don’t consider this diagram legal advice please! You should never take legal advice from someone who isn’t an attorney. But it’s a nice visual and an example of how Eric explained things in plain English! Check out our full podcast on podbean, on our website, or on your favorite podcast app.