Best way to bake?

Hi, I was wondering what everyone thinks is the best method of baking, specifically baking a high poly mesh to a normal map of a lower detail mesh. I have been creating my high poly mesh, and manually creating a lower poly cage around the mesh. Sometimes this creates problems around bevelled corners where it creates white space because there is no geometry directly below it.

Is there a better method for doing this? Should take my high poly mesh and apply a decimation modifier? How much space do you typically like to keep between your high poly mesh, and your cage?

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