All throughout your life you've had to pay taxes on your income. Unfortunately, taxes are still present even after you're gone--they're taken out of your estate, thereby shrinking the value of what you're leaving to your beneficiaries, unless your beneficiaries falls into an exempt classification. Estate taxes can range approximately anywhere from 20-40%, which is no small sum if you're leaving anything of real worth behind. It's no wonder that many people are so interested in looking for ways to avoid estate taxes so that their children and other beneficiaries can receive more.

Luckily, with the help of an experienced estate planning lawyer, there are ways you can mitigate or avoid your estate taxes. Learn how estate and gift taxes work, and find tips on how to reduce estate taxes by using trusts or gifts.