We use tax minimization in our planning. Typically, there are 4 parts:

1. We go to lines 8 and 9 of your Form 1040 and see how much you have in interest and dividends that you are paying tax on each year. Usually, this is from reinvested dividends and interest from mutual funds. It is inefficient to pay taxes on money you never touched so we address this and can usually save people about $3K to $5K in taxes each year.
2. IRA to Roth conversion. If we grow your IRA from $250K to $800K in 20 years, are you happy with us? For tax reasons, you should be furious. In your mid-80s, we have put you in the top tax bracket for the rest of your lives because now you have to pay required minimum distributions on that IRA when we could have been proactive and paid taxes on your IRA at $250K. Let me put this another way; would you rather pay taxes on your IRA at $250K or at $800K? We have a specific, mathematical approach for Roth conversions with our clients. We would never convert short or intermediate term money from an IRA to a Roth since the beauty of the Roth account is to grow tax free, pay out income tax free and transfer to beneficiaries tax free. It is a fantastic account and we save clients a lot of money in taxes by knowing how to use it and in which accounts.
3. Estate taxes or transfer tax. If you want us to we can help you eliminate estate transfer taxes using tax planning.
4. For our clients that have estates above $3M, there are other ways to receive income that should be reviewed such as Nevada Corporations, Foundations, Family Limited Partnerships, etc. These all have definite advantages and disadvantages but should be reviewed as options to help significantly reduce taxes on your income.