Question 1: What would you suggest are the most effective tax strategies available and why? I have heard of many different ways to approach taxation and realize that trust are one avenue a person((s) can take? But without proper advice, this can prove to be difficult at times. I also know that there are different types of trust available regarding this issue, but I am not sure that I understand the differences that well.
Question 2: What exactly are the major tax minimization strategies? My parents utilized trusts, but unfortunately they weren't given the best advice and my brother and I had a bit of a mess to deal with, and some things like dispersement that were "set in stone" and we could do nothing about.
Question 3: In an effort to not make the same "mistakes" for my kids, I'm wondering if what the other alternatives might be. I'm sure there are other alternatives, but I am not sure which ones are considered to be the best. Can you help me understand these tax strategies better please? Which ones are considered to be the most effective and why? What changes have been made to help even more?