Maximize Your Assets With Thorough Estate Tax Planning
Estate planning is about more than just finances; it is about ensuring your legacy and protecting your loved ones. At Kennedy Law Associates, we understand the emotional weight of estate tax planning. That is why our team assists clients in Charlotte and throughout North Carolina to preserve their wealth for future generations. With over 25 years of combined experience, our attorneys are ready to guide you through the complexities of estate tax law with the utmost commitment to asset preservation.
Kennedy Law Associates is a premier family law firm located in the vibrant city of Charlotte, North Carolina. We focus exclusively on family law, including high-asset divorce and estate planning. Our lawyers are skilled litigators and mediators who strive to find calm, amicable solutions for our clients. We offer the comprehensive service you would expect from a big-city firm, with the personal touch and care of a local practice. Our tailored approach means we take the time to understand your unique situation, providing solutions that are as individual as you are.
What Are The Current State And Federal Estate Tax Rules?
The laws surrounding estate taxes are numerous and complex. However, learning about them is crucial for effective estate planning. In North Carolina, there is no state estate tax, which can be beneficial for residents planning their estates. However, federal estate tax laws still apply. In 2025, the federal estate tax exemption is $13.99 million. For estates whose decedents passed away in 2024, the federal exemption is $13.61 million. Married couples’ exemption doubles. Any assets exceeding this amount may be subject to a federal estate tax rate of up to 40%.
How Can An Estate Planning Attorney Help Me Minimize Estate Taxes For My Heirs?
An estate planning attorney can help you employ strategies to minimize estate taxes, ensuring more of your wealth is passed on to your heirs. Here are some strategies we might consider:
- Lifetime gifting: By gifting assets during your lifetime, you can reduce the size of your taxable estate.
- Irrevocable trusts: Placing assets in an irrevocable trust can remove them from your estate, reducing your tax liability.
- Charitable donations: Making charitable gifts can lower your estate’s value, providing tax benefits while supporting causes you care about.
- Family limited partnerships: These can help manage and transfer family assets efficiently, potentially lowering estate taxes.
Our attorneys can help you create a tailored estate plan that incorporates these strategies. We aim to reduce tax burdens and preserve your wealth for your loved ones.
Charitable Giving: A Gift That Endures
Charitable giving is a powerful tool for reducing estate taxes while supporting meaningful causes. By making charitable gifts during your lifetime, you can decrease the size of your estate, leading to potential tax savings. We can help you structure these gifts to maximize their impact both on your estate and the charities you support. Our team will guide you through the process, ensuring your charitable intentions align with your overall estate planning goals.
Our Commitment To Personalized Estate Planning
Our estate planning lawyers focus on family law and estate planning, which gives them a deep understanding of family dynamics. Estate plans are much more than legal documents: they are tools for solidifying relationships and legacies. Our attorneys take the time to get to know you and your family, ensuring that your estate plan reflects your wishes and minimizes potential conflicts. We care deeply about our clients and are committed to providing the guidance and support you need to protect your assets and your family’s future.
Talk To A Charlotte Estate Tax Attorney For More Info
Take the first step in mitigating estate taxes with Kennedy Law Associates. Our team is ready to assist you in creating a comprehensive estate plan that minimizes the impact on your assets. To schedule your initial consultation, please call our law office at 704-512-0619 or send us an email.