Host: Are there any other ways to plan?
William Conway: The best way to plan in our estimation is by using a Revocable Living Trust and the reason we like to use Revocable Living Trust for our clients is because a Revocable Living Trust avoids all three of those gremlins that we spoke about earlier. It avoids the gremlin of living probate. That is what happens occasionally in guardianships, conservatorships in the circumstance someone has failed to plan.
It avoids the possibility of going through probate for the distribution of property and of course, it is able to preserve the highest and most amount of assets away from federal taxes as possible.