Now is a great time for estate planning, and many planners are turning to grantor-retained annuity trusts to do that, writes the Wall Street Journal.

The IRS interest rate on GRATs has fallen, making it easier for assets to pass tax-free to heirs. The January rate is 2.4 percent, and will fall to 2 percent in February, according to the paper.

Another popular strategy is direct gifts. Changes to the annual gift-tax exclusion allow clients to give away as much as $13,000 to any one they choose. Payments made directly to a medical or educational institution are also considered gifts, but aren’t included in the annual limit.