Best Estate Planning Strategy for High-Net-Worth Individuals

John is a high-net-worth individual who is considering his estate planning options. He has two adult children, and he wants to minimize taxes and ensure a smooth transition of his wealth after he passes away. He is contemplating whether to establish a trust or to simply draft a will detailing the distribution of his assets. John’s financial advisor has provided him with different options for how to proceed. Given John's situation, which option is most likely to provide the best benefits for his estate planning?