¨    U.S. Estate Taxes.   U.S. wealth transfer taxes demand three primary defensive strategies for people with substantial assets. First, allocate high risk, high reward investments to the youngest generation as early as possible, and consider making gifts for this purpose if necessary. Second, pool investment resources to curb impulse investing, facilitate diversification, and reduce taxable value for wealth transfer tax purposes. Third, make a realistic prediction of whether U.S. estate taxes will actually be repealed for a meaningful period of time, and then adopt a plan that takes the prediction into account but also includes a hedge against the risk that the prediction is wrong.   Details