[Verse 1] When wealth accumulates beyond your needs Time to plan how legacy proceeds Federal exemption shields eleven million strong But every dollar past that threshold pays the gong Gift tax annual limits fifteen thousand clean Per person, per year, stays tax-free and lean [Chorus] Estate planning fundamentals, map your treasure's flow Trusts and gifts and taxes, every wealthy soul should know Transfer while you're breathing, save the death tax bite Revocable and irrevocable, structure wealth just right Estate planning fundamentals, generations blessed Plan today, preserve tomorrow, put your heirs at rest [Verse 2] Generation-skipping tax awaits the crafty mind Skip your children, reach grandchildren, penalties you'll find Forty percent federal rate devours unplanned estates Plus the state might grab a portion through their collection gates Marital deduction unlimited between the spouses Charity receives your gifts without tax grouses [Chorus] Estate planning fundamentals, map your treasure's flow Trusts and gifts and taxes, every wealthy soul should know Transfer while you're breathing, save the death tax bite Revocable and irrevocable, structure wealth just right Estate planning fundamentals, generations blessed Plan today, preserve tomorrow, put your heirs at rest [Bridge] Revocable trust holds assets, you maintain control Change beneficiaries freely, flexibility your goal Irrevocable means permanent, assets leave your name Tax benefits substantial but you can't reclaim Grantor pays the income tax on irrevocable gains Beneficiaries receive distributions, wealth remains [Verse 3] Family limited partnerships discount the value shared Minority interests transfer cheaper, tax burden spared Qualified personal residence trusts freeze home appreciation Senior keeps residing while the junior generation Receives future growth at discounted present cost Strategic gifting means estate taxes lost [Chorus] Estate planning fundamentals, map your treasure's flow Trusts and gifts and taxes, every wealthy soul should know Transfer while you're breathing, save the death tax bite Revocable and irrevocable, structure wealth just right Estate planning fundamentals, generations blessed Plan today, preserve tomorrow, put your heirs at rest [Outro] Bypass trust preserves exemption for surviving spouse Dynasty trusts span centuries within the legal house Plan your wealth transfer wisely, minimize the government's take Estate planning fundamentals, for your family's sake
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