For most people, tax planning means saving income and capital gains taxes, not estate taxes. - In this video, Bill talks about how community property trusts can be used to greatly reduce capital gains tax on the state tax return. - Right, when you file the state tax return, you file the same return instead of Maryland. - They somehow object to the stepped-up basis. I believe you can buy the jurisdiction for Maryland state purposes of Virginia agency as well, but I think that's neither here nor there. - The point is, if you end up where you would add and not have done this, what else could you have done? And the answer is, this is a home run. - Let's go into more detail on the strategy. - Okay, yes, I have two comments on the sulfonyl trust. - Does it make sense to have one for life to hold an island and the other one to hold the asset that you want to have appreciated? - I think it depends on what your objectives are, but in the ones that I had done, we actually had the life trust hold the island and the other trust hold the appreciated asset.