For a plain-English explanation of how GRATs and other estate planning opportunities work, see Estate Planning Smarts: A Practical, User-Friendly Action-Oriented Guide, the bestselling book by Deborah L. Jacobs .

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Deborah L. Jacobs, a lawyer and journalist, is the author of Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide.

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Deborah L. Jacobs, a lawyer and journalist, is the author of Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide (DJWorking Unlimited, 2009).

FORBES: Expert View

Jacobs is a lawyer, an award winning journalist, and the author of Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide (DJWorking Unlimited, 2009).

FORBES: Lawyers And Advisers Can Emphasize Value Added With Deborah L. Jacobs' Client Education Brochures

For more advice, Deborah has just posted a free update to her 2009 book, Estate Planning Smarts, A Practical, User-Friendly, Action-Oriented Guide.

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Deborah L. Jacobs, a lawyer and award-winning journalist, is the author of the bestselling book, Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide, 2nd Edition (DJWorking Unlimited, 2011).

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Law schools have generally lagged behind other, more real-world oriented institutions like business schools in piloting practical improvements, as law professors tend to focus on scholarly work, says Bill Henderson, a professor at Maurer.

WSJ: Law Schools' Course Emphasis Shifts From Textbooks to Skill Sets