Although North Carolina doesn’t impose state or inheritance taxes, and the One Big Beautiful Bill increased the federal estate and gift tax exemption, estate and tax planning matters. Regardless of your assets or net worth, you will want to ensure your wealth is managed and distributed according to your wishes. Your estate plan would serve as a roadmap for loved ones to follow and will be designed to spare them from unnecessary stress and excessive taxes. 

While estate and tax planning is for everyone, it is crucial for high-net worth individuals. Let’s say your estate is worth $40 million. If you’re married, you and your spouse have a combined federal tax exemption of up to $30 million. When one of you dies, the other will inherit the estate outright and be shielded from federal taxes. However, the estate would then only be exempt for up to $15 million. The excess amount of $25 million would be subject to a federal estate tax rate of up to 40% unless you utilized strategic estate and tax planning to avoid unnecessary taxes.   

Alloy Wealth customize estate plans for individuals and couples so that wealth can be transferred with tax-efficiency. After you meet with us, and we get a clear understanding of your wishes, we will work with fee-based attorneys to draft and file all the legal documents you will need. We’ll then compile your documents in a notebook making it easy for you to give clear direction to your loved ones so they will know what to do when you’re gone. 

Along with our estate and tax planning services, we also offer insurance. During your appointment, we’d be happy to analyze your current policies and recommend other insurance programs that may be of benefit to you in transferring wealth with tax-efficiency. Contact us at 800-689-3935 to speak with one of our team members.