Net Worth -- One to Five Million  

Congratulations, you’ve reached a level of net worth enjoyed by only a few percent of American families.  At this level of net worth, the focus is on effective use of estate tax credits usually accomplished by dividing your assets into two groups.  All property is removed from joint tenancy so there is no transfer upon death with a resulting loss in estate tax credit.  Separate husband and wife trusts are created, with no tax due upon the first death.  Trust income goes first to the surviving spouse and even the Trust principal may be used for their health, education, support, and maintenance.  Protecting your assets in a Trust offers many other benefits as well – see the box to the right.  Budget $1500 to $3000 to take the first step.  After the death of the first spouse, the trusts are administered without probate and successor trustees take over the administration of assets.   Costs at this step are less than the cost of a probate.  At the second death, the remaining assets transfer to the beneficiaries – often tax-free again.  There are many more benefits and advantages to using trusts several of which may be found on this page.


** This scenario starts at about half the single estate tax credit [allowing for a doubling of net worth] up to over twice the estate credit.  Since the Estate Tax Credit is changing every few years year, this scenario is constantly changing.  See the table on the definitions section.



The Process we follow:      New Client               Probate                 Picking a Trustee

Life's Complexities that can be protected against
- Your beneficiary has an accident and is sued
- Surviving Spouse Remarries into fiscal irresponsibility
- Keeping your wealth in the family should your surviving spouse remarry
- Keeping your wealth in the family upon divorce of a beneficiary
- Surviving spouse needs both money and money management
- Surviving spouse has an accident and is sued

Choose a different Net Worth:    < $300,000     Up to $1,000,000      1 to 5 Million      Over 5 Million

Some Helpful Information:     Definitions
                                                Additional Reading

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