Estate Planning for High Net Worth Families

True legacy planning isn’t just about paperwork—it’s about crafting a vision that honors your life’s work while setting your family up for long-term stability, opportunity, and harmony. For high net worth families, effective estate planning involves foresight, legal precision, and a deep understanding of wealth’s potential challenges and responsibilities.

At Legacy Law Group, we take a consultative, hands-on approach to designing sophisticated estate plans tailored for affluent individuals and families. Whether your estate includes complex investments, business equity, multiple properties, or a charitable mission, we help you structure every element to reduce taxes, maximize control, and preserve intergenerational wealth.

We help:

• Founders and entrepreneurs navigate succession planning and exit strategies
• Families with $5M–$50M+ in diversified assets establish long-term security
• High-income professionals balance tax savings with personal legacy goals
• Multigenerational households implement efficient wealth transfer systems
• Real estate developers and investors manage holdings across jurisdictions
• Charitable-minded families create giving vehicles that leave an impact

Our clients aren’t just thinking about what they’ll pass down—they’re thinking about how it will shape their family for decades. That’s why our process is holistic. We build in flexibility, protect against risk, and align every piece of your estate with your greater vision.

Whether you’re nearing retirement, experiencing significant financial growth, preparing for a liquidity event, or simply planning ahead, we’ll help you build a plan that evolves with you—and with your legacy.

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Why High Net Worth Estate Planning Requires More Than a Will

If your estate includes substantial wealth, complex assets, or a multigenerational vision, a basic will or revocable trust simply isn’t enough. High net worth families require a layered approach that integrates estate law, tax strategy, risk mitigation, and family governance.

Without a well-structured plan, your estate could:

• Be taxed up to 40% on amounts exceeding the federal exemption
• Create liquidity problems that force heirs to sell valuable assets
• Cause long, expensive probate delays or contested distributions
• Leave your children unprotected from future divorce or lawsuits
• Miss time-sensitive tax-saving opportunities before exemption laws change

And What High Net Worth Individuals Need to Know?

• Your will alone won’t prevent estate tax. Most estates over $13.61 million (per person) face federal estate tax exposure—and if no proactive gifting or trust work is done before the 2026 exemption drop, your family could pay millions more than necessary.
• Complex assets require specialized structuring. Business equity, investment partnerships, real estate portfolios, private equity, and digital assets must be titled and coordinated with your estate plan to avoid delays and disputes.
• Family wealth can be lost in divorce or litigation. Children who inherit assets outright are vulnerable to claims from spouses, lawsuits, or poor financial management. We use protective trusts to shield assets for decades.
• Succession plans matter just as much as distributions. Whether you’re passing on a family business, managing a trust for multiple generations, or outlining voting rights for LLCs, governance documents are critical.
• Legacy isn’t just financial—it’s personal. Your estate plan should reflect your values, guide your heirs, and prepare them to handle wealth responsibly. We help clients incorporate legacy letters, family mission statements, and structured trust provisions to promote harmony, purpose, and stewardship.

Effective high net worth planning must address:

• Estate, gift, and income tax alignment across your portfolio
• Asset protection through trust structures and legal safeguards
• Business succession strategies and buy-sell planning
• Charitable giving, impact philanthropy, and foundation creation
• Customized planning that adapts with your family and wealth over time

Ultimately, your estate plan should do more than divide assets—it should preserve your legacy, prepare your heirs, and position your family to thrive for generations.

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The Core Strategies We Use to Protect and Grow Your Legacy

Estate planning for high net worth families demands a sophisticated, multi-tiered approach. No two families are the same, and neither are their financial structures, risk tolerance, or legacy goals. That’s why our strategies aren’t one-size-fits-all—they’re layered, customized, and designed to evolve with you.

Our approach blends proven legal tools with high-level tax strategy to safeguard wealth, manage complexity, and empower future generations.

1. Spousal Lifetime Access Trusts (SLATs)

SLATs are one of the most powerful tools for married couples looking to use their lifetime exemption before it’s reduced in 2026. These irrevocable trusts remove wealth from your taxable estate while allowing your spouse to access trust income or principal during their lifetime. This offers a rare combination of control, access, and tax savings. SLATs are often used in tandem with gifting strategies and other irrevocable trusts for maximum efficiency.

2. Grantor Retained Annuity Trusts (GRATs)

GRATs are particularly effective for clients with appreciating assets. You contribute those assets to the trust, retain an annuity stream, and transfer future growth to heirs with minimal or no gift tax. They're ideal for private business shares, stock options, or real estate investments expected to grow quickly. A properly structured GRAT can pass millions to your children at a fraction of the cost of an outright gift.

3. Irrevocable Life Insurance Trusts (ILITs)

Life insurance proceeds can inflate your estate, leading to unexpected estate taxes. By placing policies in an ILIT, you exclude the death benefit from your taxable estate, ensuring beneficiaries receive the full payout. ILITs are also useful for providing liquidity to your estate or your heirs without increasing tax exposure—perfect for families with illiquid assets like closely held businesses or real estate.

4. Dynasty Trusts & Generation-Skipping Trusts (GSTs)

These trusts are designed for longevity. They allow you to pass assets to multiple generations while avoiding estate taxation at each generational level. Dynasty trusts often include asset protection features that guard against divorce, lawsuits, and mismanagement by beneficiaries. They're a cornerstone strategy for clients focused on legacy preservation and long-term family governance.

5. Charitable Remainder Trusts (CRTs), Lead Trusts & Private Foundations

Philanthropy can play a key role in estate planning—not only in legacy building but also in tax planning. CRTs and charitable lead trusts allow you to support causes you care about while receiving tax deductions and reducing estate size. For families seeking deeper involvement, we help establish private family foundations that serve as vehicles for long-term charitable giving and family engagement.

6. Family Limited Partnerships (FLPs) & LLC Structuring

We use these entities to consolidate ownership of businesses, real estate, or investment portfolios, allowing for structured succession and discounted transfers to heirs. They also offer liability protection and centralized management, which simplifies complex wealth transfer scenarios. Combined with trusts, they can unlock significant tax and control benefits.

Each of these tools can be adapted and combined to match your family’s unique circumstances. We analyze your portfolio, family structure, philanthropic goals, and long-term plans to create a dynamic, resilient strategy that can withstand economic shifts and legal changes.

Our goal is simple: to turn wealth into lasting impact—securely, strategically, and with clarity for every generation to come.

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Real Example: A $40M Estate Protected from Future Tax Cuts

We recently helped a family with real estate holdings, market investments, and a growing business restructure their estate ahead of the 2026 exemption drop. Projected exposure was $8 million in estate tax liability.

We:

• Moved $12M into two SLATs for the couple while preserving family access
• Created an ILIT to shelter $5M in insurance proceeds
• Used a GRAT for the future appreciation of their business value
• Established a dynasty trust to serve as a long-term wealth vault for grandchildren

The result? Their projected estate tax burden was reduced by more than 90%, and their children now have a protected, tax-efficient path to inheritance.

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Why Acting Now Matters

The federal estate tax exemption is at an all-time high—$13.61 million per individual in 2024—but this opportunity won't last. Under the provisions of the 2017 Tax Cuts and Jobs Act, the current exemption is scheduled to sunset on December 31, 2025. Beginning in 2026, the exemption will revert to pre-2018 levels, adjusted for inflation—estimated to be around $6–7 million per person.

For high net worth families, this change could mean a sudden increase in taxable estate exposure, potentially resulting in millions in avoidable estate taxes. If your estate exceeds the post-2026 exemption, you could face a 40% federal tax on the excess amount—unless proactive strategies are in place.

Why Does this Matter?

• A married couple with a $25 million estate could lose $3–4 million or more in taxes without planning.
• Assets that could be protected today using SLATs or GRATs may be locked in once the exemption is reduced.
• Families with business or real estate holdings may face liquidity crises when trying to cover tax liabilities.

What Can you Do Now?

• Maximize Your Lifetime Gifting: Leverage today’s high exemption through SLATs, GRATs, or outright gifts.
• Implement Irrevocable Trusts: Remove appreciating assets from your estate before they balloon past the lower exemption.
• Review & Update Documents: Ensure your existing estate plan aligns with the changing landscape and includes flexibility.
• Talk to Your Team: We coordinate with CPAs and financial advisors to create a proactive, integrated plan.

Delaying your planning can lead to:

• Missed tax reduction windows
• Litigation or probate complications
• Unintended asset exposure to divorce, creditors, or immature heirs

Taking action now gives you time, options, and access to the most favorable tax environment in decades—while it lasts.

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what DOES THE Estate Planning Process for HIGH NET WORTH Families look LIKE?

Our process is built for busy families with significant wealth who value clarity, confidentiality, and strategic thinking. We don’t just create legal documents—we guide you through a proven, consultative process that integrates estate, tax, asset protection, and legacy planning in one cohesive framework.

1. Initial Strategy Session – We begin with a comprehensive discovery call or meeting where we learn about your family’s dynamics, current assets, existing legal documents, future goals, and concerns. Whether you’re concerned about family harmony, tax exposure, or protecting an heir, we listen first.
2. Custom Planning Blueprint – After your consultation, we create a written planning roadmap. This outlines what documents you need (and don’t), what trust structures or entities we recommend, how much estate tax you may be exposed to, and a phased approach to implementation. This is a strategic estate and tax map tailored for your family.
3. Legal Drafting & Implementation – We then build the legal backbone of your estate plan: revocable and irrevocable trusts, wills, powers of attorney, HIPAA authorizations, trust funding instructions, and tax-planning tools. Every document is drafted with language your family can understand and reviewed with care. You’ll never sign something you don’t fully comprehend.
4. Asset Integration & Trustee Support – Estate plans only work if they’re funded. We go a step further by helping you transfer assets into trusts, retitle properties and business interests, and coordinate with financial institutions. We also assist trustees with fiduciary education, guidance on managing distributions, and practical tools for administration.
5. Ongoing Reviews & Adjustments – Once your plan is implemented, we offer ongoing support. We schedule regular reviews to ensure your estate plan continues to match your life and wealth. We update strategies as tax laws change, businesses are sold, grandchildren are born, or life takes a new direction.

Beyond these five steps, we also facilitate family meetings and legacy conversations. These optional sessions help educate heirs, align expectations, and reduce future disputes—especially valuable for families managing large inheritances or succession planning for a family business.

This high-touch, comprehensive process ensures your estate plan isn’t just a one-time legal task—it’s a lifelong framework for protecting what matters most to you and the generations that follow.