For high-net-worth individuals and families, estate planning is more than transferring assets – it is about minimizing taxes, protecting wealth, and ensuring financial security for future generations. Without a well-structured plan, estates can face unnecessary income tax, estate tax, gift tax, and generation-skipping transfer tax liabilities, potentially diminishing the legacy left behind.
Our firm specializes in sophisticated estate and tax strategies designed to protect wealth while maintaining flexibility. Whether optimizing tax-efficient wealth transfer, preserving a lasting legacy, or implementing advanced trust structures, we provide tailored estate planning solutions for affluent individuals, business owners, and families committed to safeguarding and maximizing their wealth.
Our estate and gift tax planning strategies integrate income tax planning, wealth transfer techniques, and advanced trust structures to optimize tax efficiency while preserving financial legacies. For example, Intentionally Defective Grantor Trusts (IDGTs) allow for the removal of appreciating assets from taxable estates while retaining grantor tax benefits. Spousal Lifetime Access Trusts (SLATs) help married couples minimize estate taxes while maintaining indirect financial access. Irrevocable Life Insurance Trusts (ILITs) ensure that life insurance proceeds pass estate-tax-free to heirs, providing liquidity without increasing tax liability. Additional estate and gift tax planning tools include Grantor Retained Annuity Trusts (GRATs), which facilitate the efficient transfer of wealth while reducing tax exposure.
For most of our estate and gift tax planning strategies, we incorporate Generation Skipping Transfer Tax (GSTT) planning to enable assets to pass across multiple generations with minimal or no tax impact. This can allow generational wealth to growth estate tax free!
For clients seeking philanthropic impact alongside tax efficiency, Charitable Remainder Trusts (CRTs) offer a powerful solution. These trusts allow individuals to contribute low basis assets, sell without realizing income, receive income for a set period, and ultimately benefit charitable causes – while securing significant income and estate tax advantages. CRTs provide a structured way to support philanthropy while maintaining financial flexibility and reducing taxable estate value. Other philanthropic tools include the creation of a 501(c)(3) or a foundation.
While these are some of the sophisticated solutions we employ, estate planning is never one-size-fits-all. We tailor each strategy to align with our clients’ unique financial objectives, family dynamics, and long-term vision for wealth preservation.
Laws change. Financial circumstances evolve. Your estate plan should, too.
Estate planning is more than just preparing documents; it requires a proactive and strategic approach. Our firm delivers concierge-level legal services, collaborating closely with your financial and tax advisors to create tailored plans that preserve wealth, reduce tax liabilities, and support long-term financial objectives.
Take the next step and schedule a confidential consultation with one of our attorneys today.
Myatt & Bell provides a comprehensive range of legal services that help build, strengthen, preserve, and protect families for generations. Trusted since 1960, the firm now proudly serves multi-generational clients, businesses, and estates with an unwavering commitment to client satisfaction and legal excellence.
