A “lifetime gifting program” can be annually used by Meg to each of her children through “gift-splitting elections” (“Gift and Estate Tax Planning” 14-22). Assets must be transferred in a maximum rate into “living trusts” in order to eliminate “probate,” and induce as “pour over” in case the property is “still held at death” and is intended to be allocated as living trust (“Gift and Estate Tax Planning” 14-22). Meg can consider having a “bypass trust” and a “marital deduction trust.” The bypass trust can ensure that Maynard has enough income during his lifetime and this income will be passed among Meg’s children upon the death of Maynard. Moreover, the trust will be held as part of Meg’s estate; however, it would be categorized at the “equivalent
