Yes, there are multiple ways to avoid or reduce estate taxes, commonly referred to as the “death tax”. In Minnesota, estates smaller than $1 million dollars, including life insurance, are not subject to the death tax. Estates larger than $1 million dollars, including the value of life insurance, are subject to the death tax. One simple way to double the $1 million dollar exemption is if you are married and use a special kind of trust. However, few people take advantage of this. If you would like to avoid or reduce the death tax, give us call at 763-420-5087 to schedule a free consultation to discuss protecting what matters most to you.