High-net-worth families don't leave anything to chance. They use estate planning not only to distribute wealth, but to protect it -- from the IRS, from court battles, and sometimes even from their own heirs.

If you have a house, retirement savings, or kids, a smart plan matters more than you think. And you don't need millions in the bank to get started. You only need the right tools and a little strategy.

1. Trusts built for more than just probate

The ultra-rich love trusts because they give control and protection that wills can't match.

• A revocable living trust avoids probate and keeps your affairs private.
• A dynasty trust can pass wealth down for generations, skipping estate taxes along the way.
• Spousal Lifetime Access Trusts (SLATs) let couples remove assets from their estate without losing all access to the money.

These strategies used to be reserved for the 1%, but now, many attorneys are building trust-based plans for regular families, too.

Want to know what type of trust is right for your situation? With our partner, SmartAsset, you can get matched with up to three fiduciary advisors so you can get professional advice.

2. Life insurance that doubles as a wealth transfer tool

Permanent life insurance can be a tax-free way to pass money down to loved ones. Many high-net-worth families own their policies inside an irrevocable life insurance trust (ILIT) to keep the death benefit out of their taxable estate.

It's a powerful play:

• Pays out income-tax free
• Avoids estate tax
• Helps heirs cover taxes or debts without selling off family assets

This isn't just about coverage -- it's about control.

3. Gifting early to shrink future tax bills

Right now, you can give away $18,000 per year, per person (as of 2025) without touching your lifetime exemption. Couples can double that. Many wealthy families use this rule to move serious money out of their estate while they're still alive.

Bonus: The current federal estate tax exemption is scheduled to drop in 2026, which means now may be the smartest time to act.

Not sure how much you should give or how gifting impacts your estate? Our partner SmartAsset's no-cost quiz makes it easier to find a fiduciary financial advisor.

4. Family LLCs to pass wealth and keep control

Wealthy families often bundle their investments, real estate, or even business interests into a family limited liability company (FLLC). Then they pass on "shares" of the LLC to heirs at a discounted value.

Here's what that does:

• Keeps day-to-day control with the parents
• Reduces the taxable value of the estate
• Creates a structure for multi-generational wealth management

Setting up a family LLC requires expert help -- but it can be a game-changer for families who want both structure and flexibility.