How should a business owner think about trusts and gifting strategies?

The difficulty comes from deciding what supports your goals for your family and how you want the next generations to engage with the family wealth. The basic thing to consider is what is the amount of money you need versus what you can afford to give away now or in the future. This is basic math that an advisor and attorney can work together to determine.
A good advisor should recognize that giving your next generation an extra million dollars is worthless if it destroys their life. The most important part of the estate strategies will be defining your goals and weighing trade-offs based on more than just the numbers. Sure, you could get a million dollars to your 20 year old grandkid efficiently, but will they know how to engage with that money?

g