It is pretty easy for Jobs to avoid estate taxes but it is not clear at all how his wife would do so when she passes away.
Could you enlighten us?
Ditto gift taxes. How can you pass millions to your children and avoid gift taxes?
The standard scheme as I understand it is to start with a Trust and when the first person passes away to break that trust into 3 trusts: The Exemption Trust, the Remainder Trust and a trust that includes the 50% share of the surviving spouse.
The Exemption Trust has a dollar value equal to the exemption based on the Estate Tax rules at the time of death. No taxes will ever be due on that Estate. The Remainder Trust include the dollar value that is not exempt. No taxes are paid at this time. The surviving spouse has control of all three Estates.
When the 2nd spouse passes away the Estate is re-audited and the Estate Taxes are paid based on the exemptions and rates that are the law at the time.
Is there some way that you are aware of to avoid paying taxes when the second spouse passes away?