A Jedi Master’s estate plan

Star Wars creator George Lucas recently sold his franchise to Disney in a $4.05 billion cash deal. Many estate planning experts are calling the “move worthy of a Jedi Master,” reports marketwatch.com.

None of Lucas’s three adopted children wanted to take over the empire, so the strategy will save them the hassles of managing their inheritances, and potential legal battles. And if he sets up trusts for his children, the deal will even provide steady income for his family for generations to come.

Read: 3 ways to create an insurance trust

Also, finalizing the sale in 2012 is yet another Jedi-worthy move. The long-term capital gains tax is set to rise between 5% and 10% in January 2013, so selling now saves him money. Read more.

Here are some more estate planning tips for business owners.

Sell a business and reduce taxes

Big estate? Avoid disputes

Make sure kids don’t inherit too much

What not to do in estate planning

Don’t fudge a business valuation

Avoid a hostile company takeover