Advanced asset protection, tax minimization, and wealth preservation for affluent families
Sophisticated strategies for protecting and transferring significant wealth
Shield your wealth from creditors, lawsuits, and unforeseen liabilities with irrevocable trust structures designed for high-value estates.
Comprehensive plans for transitioning business ownership, including buy-sell agreements, family limited partnerships, and ownership transfer strategies.
Strategic estate and gift tax planning to preserve more of your wealth for future generations. Take advantage of current exemptions before potential changes.
Coordinate estate plans across multiple properties, including primary residences, vacation homes, investment real estate, and out-of-state holdings.
Charitable remainder trusts, donor-advised funds, and planned giving strategies that support your philanthropic goals while providing tax benefits.
Multi-generational wealth transfer trusts that protect family assets from estate taxes, creditors, and divorce for up to 1,000 years under Utah law.
The current federal estate tax exemption of $13.61 million per individual is historically high - but it's scheduled to drop by roughly half after 2025. For families with significant assets, this means the window to implement tax-saving strategies is narrowing. We help you take advantage of current exemptions through gifting strategies, irrevocable trusts, and other techniques that remove assets from your taxable estate.
High net worth individuals face greater exposure to lawsuits and creditor claims. Whether you're a business owner, medical professional, real estate investor, or simply someone with significant assets, proper trust structures can protect your wealth from potential claims while keeping assets available for your family.
Larger estates often involve complex family situations - blended families, children at different life stages, family members with special needs, or relatives who may not handle an inheritance responsibly. We create tailored plans with spendthrift provisions, staggered distributions, and incentive trusts that protect both your wealth and your family relationships.
If a significant portion of your net worth is tied up in a business, estate planning becomes especially critical. Without proper succession planning, your family may be forced to sell the business at a discount to pay estate taxes. We help structure ownership transfers, fund buy-sell agreements, and create plans that keep the business running while treating all heirs fairly.
Utah allows trusts to last up to 1,000 years, has no state income tax on trusts with no Utah-source income, and provides strong asset protection provisions. These advantages make Utah one of the best states for advanced trust planning, and we help high net worth families take full advantage of these laws.
Proven approaches for protecting and growing family wealth
An ILIT holds life insurance policies outside of your taxable estate. When properly structured, the insurance proceeds pass to your beneficiaries completely free of estate tax. This is especially valuable for providing liquidity to pay estate taxes without forcing the sale of business interests or real estate.
A GRAT allows you to transfer appreciation on assets to your heirs with minimal or no gift tax cost. You place assets in the trust, receive annuity payments for a set term, and any growth above the IRS hurdle rate passes to your beneficiaries tax-free.
FLPs allow you to transfer business and investment assets to the next generation at a discounted value for gift tax purposes, while maintaining control. This is particularly useful for family businesses and real estate holdings in Northern Utah.
A CRT provides income to you during your lifetime, with the remainder going to your chosen charity. This strategy provides an immediate income tax deduction, avoids capital gains on appreciated assets, and supports causes you care about while reducing your taxable estate.
A SLAT allows married couples to remove assets from their combined estates while maintaining indirect access through the beneficiary spouse. This is an especially powerful strategy before the estate tax exemption potentially decreases.
Advanced estate planning strategies are valuable for individuals and families who:
If any of these describe your situation, a standard will and basic trust may not be sufficient. Contact us for a comprehensive review of your estate planning needs.
Common questions about high net worth estate planning
The federal estate tax exemption is currently $13.61 million per individual (2024). However, this exemption is scheduled to be cut roughly in half after 2025 unless Congress acts. For high net worth individuals and families in Utah, now is the time to implement strategies that take advantage of the current higher exemption.
No, Utah does not have a state estate tax or inheritance tax. This makes Utah a favorable state for high net worth individuals from a tax perspective. However, federal estate taxes still apply to estates exceeding the federal exemption amount, making proper planning essential.
An irrevocable trust is a trust that cannot be easily modified after creation. Assets placed in an irrevocable trust are generally removed from your taxable estate, protected from creditors, and can grow tax-free for your beneficiaries. High net worth individuals often use irrevocable trusts for estate tax reduction, asset protection, and multi-generational wealth transfer.
Business owners should have a comprehensive succession plan that includes buy-sell agreements, ownership transfer structures, key person insurance, and valuation provisions. We help Utah business owners create plans that ensure business continuity, minimize estate taxes, and provide fairly for all heirs.
A dynasty trust is designed to pass wealth across multiple generations while minimizing estate and gift taxes at each generational transfer. Utah allows trusts to last up to 1,000 years, making it an excellent state for dynasty trust planning. These trusts protect family wealth from creditors, divorce, and estate taxes for generations.
Schedule a confidential estate planning consultation today