Estate Planning

Find the Right Path for Your Legacy

At Dana Whiting Law, we understand that effective estate planning is not a one-size-fits-all solution. With over 33 years of experience navigating complex tax laws and evolving client needs, we’ve developed a unique tiered approach to ensure you receive precise, personalized guidance tailored to your net worth and life stage.

Our practice delivers everything from foundational documents to advanced tax strategies and comprehensive family office services—ensuring your assets are protected and your legacy secured for generations to come.

Tier 1: Core Estate Planning

Foundational Planning for All Americans

Clients $500K – 10 Million

This essential tier ensures your wishes are honored and your assets pass smoothly to loved ones—without unnecessary time, cost, or court involvement.

Key Documents Include:

• Last Will & Testament
• Durable Power of Attorney
• Health Care Power of Attorney
• Living Will
• Revocable Living Trust (recommended)

Goal:

Avoid probate, reduce stress on your family, and ensure an efficient transfer of your legacy.

Tier 2: Estate Planning 202

Growing Estates & Asset Protection

Clients with $10 Million – $25 Million

This tier introduces more sophisticated tools for clients facing potential estate tax exposure, asset protection needs, or ownership of businesses and high-value properties.

Common Strategies:

• Irrevocable Life Insurance Trust (ILIT): Keeps insurance outside your taxable estate.
• Qualified Personal Residence Trust (QPRT): Removes your home from your estate at a discount.
• IRA Look-Through Trust: Protects inherited retirement accounts.
• LLCs & Irrevocable Trusts: Shield risky assets like rentals or investments.
• Charitable Remainder Trusts: Pair philanthropy with tax efficiency.

Goal:

Proactively reduce tax burdens and protect growing wealth before issues arise.

Tier 3: Ultra High-Net-Worth Tax Planning

Advanced Wealth Preservation

Clients with $25 Million – $100 Million

This tier is designed for clients with substantial estates, income-heavy portfolios, or closely held businesses—where significant tax exposure is a real concern.

Key Strategies:

• Family Limited Partnerships (FLPs): Discount estate values and protect family assets.
• Spousal Gift Trusts: Remove assets from your estate while retaining indirect access.
• Stand-Alone Gift Trusts: Transfer future appreciation to heirs and protect from creditors.
• Beneficiary Defective Trusts (BDITs): Avoid gift taxes and protect appreciation from estate inclusion.

Goal:

Minimize estate and income tax liabilities while preserving generational wealth.

Tier 4: Family Office Services

Comprehensive Legacy & Wealth Management

Clients with $100M – $500M

For ultra-high-net-worth families, Family Office Services deliver the most advanced, ongoing strategies for managing wealth, succession, and long-term legacy. These solutions build on the Tier 3 foundation and require deep expertise and ongoing oversight.

Key Features of Family Office Services:

• Spousal Gift Trust (Living Credit Shelter Trust): Removes appreciating assets from your estate while maintaining access through a spouse. Ideal for assets with high growth potential and offers substantial asset protection. Requires annual income tax filings.
• Stand-Alone Gift Trusts for Children/Grandchildren: Keeps future appreciation out of your estate and away from potential creditors. Requires Gift Tax Return and annual income tax reporting.
• Beneficiary Defective Trust (BDIT): Allows clients to “sell” appreciating assets into the trust for protection and growth outside the estate—without triggering a gift tax.

These structures are particularly effective for families with intricate business interests, international assets, or multigenerational planning needs.

Goal:

Achieve maximum tax efficiency, preserve family values and assets, and ensure wealth is sustained across generations.