Over the last couple of years, as there was concern that the gift and estate tax exemption (along with the related generation-skipping transfer tax exemption) would be reduced back to pre-2017 levels, many individuals made gifts or other transfers to utilize their remaining gift and estate tax exemption. By utilizing their remaining exemption, these individuals have protected themselves against any future reductions in the estate and gift tax exemption because they have “locked-in” the higher exemption amount, so-to-speak. However, even if you have utilized your full exemption, there are several planning opportunities available to further reduce your taxable estate or otherwise protect your assets from potential creditors.