But she doesn't regret avoiding GRATs and FLPs because of the years of continuing paperwork they require.

FORBES: It's Never Too Early

People with FLPs should consider gifting an equivalent amount of limited partnership interests, so as to decrease the value of their estate.

FORBES: Estate Planning Moves To Consider Before 2010 Is Done

FLPs also offer the additional significant benefits of excellent asset protection from future creditors, centralization of investments, family succession, and participation of younger family members in management of family assets and investments.

FORBES: Estate Planning Moves To Consider Before 2010 Is Done

Today's entrepreneurs don't have to make it a family affair: There are stadiums full of lawyers, accountants and planners buzzing about GRATs (grantor retained annuity trusts), FLPs (family limited partnerships), LLCs (limited liability companies) and CRTs (charitable remainder trusts).

FORBES: It's Never Too Early