High Net Worth Estate Planning in Utah
Tier 3
Tier 3 Clients: $25 Million – $50 Million
Tier 3 clients are those whose net worth exceeds the federal estate tax exemption, no matter the size of their overall estate. Currently, that means $15 million for individuals and $30 million for married couples. These clients often require strategies to reduce estate tax exposure and to defer capital gains. This is especially true when selling a business, liquidating significant stock positions, or transferring high-value real estate. For affluent families and individuals in Utah, careful planning is critical to protect wealth and account for both federal rules and how assets such as companies, land, and investments are held.
Wealth Transfer Strategies & Estate Tax Reduction
Capital Gain Deferral & Sell of Business
“Over the years we have implemented plans for our high net worth clients that will save their families hundreds of millions of dollars in Estate Taxes when they die using the most cutting edge strategies available – we also have many strategies that will save business owners millions of dollars in capital gains when they sell their company in the future.”
– Matt Dana, Founder
We work with many high net worth clients
- $250+ Million Net Worth
- 8
- $100-250 Million Net Worth
- 25
- $50–100 Million Net Worth
- 35
- $20–50 Million Net Worth
- 140
- Large Farmers in Yuma and Casa Grande
- 5
- Owners of Professional Sports Franchises
- 3
- CEOs of Publicly Traded Companies
- 7
- Former NBA Stars
- 2
Trusted Estate Planning Guidance for Over 40 Years
With decades of experience and advanced legal education, we’ve earned the trust of our clients—and their referrals. That reputation extends to the work we do with families in Utah who turn to us for high-level estate planning solutions.
"I have a very complex estate with some unique challenges. Matt and Trevor came up with many creative ideas for me to choose from which resulted in tremendous tax savings. I highly recommend them for estate tax planning."
"Matt, Trevor and team are knowledgeable on every aspect of Estate Planning. They are always current with the latest developments and use their skills to tailor an estate plan that fits your individual needs and desires."
"I am a retired 20-year partner from one of the big 4 international CPA firms. Even with my credentials and my worldwide fortune 500 experience in the financial sector, I chose Dana Whiting Law to help with my Estate Planning needs. Matt has the ability to explain complicated Tax Strategies in simple terms to understand, and he is fun to listen to. Also meeting in his Sedona Office was very convenient."
”Matt & Todd, Thank you both for explaining and making our family feel so good about where we are. Very professional and well done!!…. I got a bit choked up there because as you said Matt, we are truly blessed and it’s hard for me to look at my family and explain what that means to us…..Thanks again!… P.S. Todd, you really have done a wonderful job with all of this!!!"
"I've used Matt and Trevor for several years now for estate planning and wealth transfer. They have the gift of domain expertise coupled with ability to explain complex rules and concepts in an understandable manner."
Understanding DAPTs: A Unique Estate Planning Strategy Recognized by the IRS in Utah
In addition to the many strategies above, Utah offers an Estate Planning strategy that the IRS recognizes only in a handful of States. The strategy is called a DAPT. (“Domestic Asset Protection Trust”) Or some States may call it a “Self Settled Spendthrift Trust”. Essentially this strategy allows a client to set up an Irrevocable Trust where the client is also a beneficiary and can gift his or her Federal Gift Tax Exemption into this Trust and remove the assets from the clients Taxable Estate for Estate Tax purposes. Essentially this is the equivalent of creating a SLAT for your own benefit.
In most States, a Trust created by a client wherein the client retains any “beneficial interest” in the Trust is a Red Box. Transferring assets by a client into a Red Box does not remove the assets from the clients Federal Taxable Estate. So, what’s the difference between State laws? It has to do with the creditor protection statutes of a particular State. Essentially, to be a Green Box for Federal Estate Tax purposes, the client must create an Irrevocable Trust, under State law, that shields the assets from the creditors of that client. In most States, to achieve that outcome, the client cannot be a beneficiary in that Trust. The Green Box must be created for the benefit of someone else. Under those States, a SLAT qualifies since the client creates the Green Box for the benefit of a Spouse. But the risk in that State is divorce.
When is a DAPT appropriate? When a high net worth client is single or in a new marriage. Essentially any situation where the client doesn’t want to overload assets in the name of the spouse.
Make an appointment today for a Complimentary Consultation with one of our Utah lawyers.
Estate Planning Challenges for High-Net-Worth Clients
The key factor is the depth of tax training. Advanced knowledge—such as an LLM in Taxation, which is a Master of Laws degree focused on tax—provides a critical foundation. Additional credentials like CPA or MBA designations can also enhance an advisor’s ability to handle complex wealth planning. The reality is that many estate planning attorneys have limited formal tax education, which can leave significant gaps when working with high-net-worth clients.
1. Estate and Gift Taxes: A Critical Planning Concern
With today’s nearly $14 million exemption, a married couple typically doesn’t face estate and gift tax issues until their combined wealth exceeds roughly $27 million. But once a client’s net worth reaches $50 million or $100 million, these taxes become a central concern. Adding to the urgency, the exemption is scheduled to be cut in half at the end of 2025—dropping to about $7 million per person, or $14 million for couples. That change makes securing the current exemption one of the most important planning strategies this year and next. Unfortunately, many attorneys who don’t routinely work with ultra-high-net-worth clients aren’t familiar with the available tools. As the saying goes, they don’t know what they don’t know.
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2. Trusts Often Last for Generations
“Multi-generational” or Generation-Skipping Trusts (GSTs) are among the most complex areas of estate planning. In fact, most attorneys struggle not only to explain them but also to apply the intricate rules correctly. In simple terms, GST planning allows a trust, once freed from estate taxes at the client’s level, to remain outside the estate tax system for centuries. That means children, grandchildren, and even great-grandchildren can benefit from the trust for 500 years or more without triggering estate tax liability upon their deaths.
3. Capital Gains Savings Strategies Take Center Stage
High-net-worth clients are often business owners, founders, or executives with substantial holdings in private or public companies. When the time comes to sell or diversify those shares, the resulting capital gains can be enormous. Effective planning in this area frequently involves a charitable component, making it essential to understand tools such as Private Foundations, Charitable Remainder Trusts, and Charitable Lead Trusts. The right strategies can significantly reduce tax exposure while furthering philanthropic goals.
4. Coordination with Other Advisors Is Essential
At this level of planning, success requires a true team approach. Input from the client’s CPA, financial advisor, life insurance specialist, and trust officer all play a role. Many of the most complex challenges can only be addressed by combining multiple strategies and perspectives. Estate tax, capital gains tax, and income tax often pull in different directions, so careful coordination is critical. What looks like a win from an estate tax perspective may create major problems from an income tax standpoint if not handled properly.
5. More Time Devoted Upfront to Strategy and Design
In standard estate planning, the focus is often on quickly drafting documents rather than truly exploring which strategies best fit your situation. At a higher level, the process looks very different. We spend three to four times more effort upfront in discussion, education, and design. Clients are encouraged to review our articles and come prepared for in-depth meetings, where we provide flowcharts to map out strategies and Excel models to show potential estate tax savings. What sets us apart is our ability to break down complex estate tax concepts into straightforward conversations. Before any documents are drafted, we ensure you understand each available option, its tax implications, and the cost of implementation. Typically, it takes three to five sessions for clients to fully grasp the strategies. At the conclusion, you’ll receive a comprehensive estate planning proposal to review and share with your advisors. We usually work on a flat-fee basis for these sessions and the preparation of your proposal.
We help with:
- Family Limited Partnerships
- Valuation Discounts (“Squeeze”)
- Intentionally Defective
- Grantor Trust
- Stand-Alone Generation Skipping Trusts
- Charitable Lead Trusts/ Charitable Remainder
- Trusts
- Installment Sales to Defective Trusts (“Freeze”)
- Testamentary Charitable Lead Annuity Trusts (“Washing Machine”)
- Private Family Foundations
- Family Office Services
Understanding High-Net-Worth Clients Through Experience
With more than 40 years in estate planning, I’ve grown alongside my clients—intellectually, professionally, and financially. The value of experience and advanced tax education is something only those who have it can truly appreciate. My perspective on estate planning has evolved as my clients’ lives and wealth have become more complex. I often say I haven’t just practiced estate planning—I’ve *lived* it. You can’t fully grasp these issues until you’ve raised children and grandchildren, or witnessed the challenges of divorce, financial setbacks, or shifting family dynamics. There is a clear distinction between drafting a basic estate plan and designing one for a high-net-worth family. What follows are some of the key differences.
Estate Tax Calculator
Estimate your potential federal estate tax liability.
Disclaimer: This calculator provides an estimate for informational purposes only and does not constitute legal or financial advice. The federal estate tax exemption amounts are subject to change. Please consult with a qualified professional for personalized advice.
What’s The Process
Step 1: Begin with a Complimentary Introductory Meeting
Your first meeting with Dana Whiting Law is complimentary and designed to determine whether we are the right fit for one another. It’s an opportunity for you to ask questions and get a feel for our approach, while we learn more about your goals and priorities.
Step 2: Outline the Necessary Design Sessions
During that initial meeting, we will discuss what we call “Design Sessions.” For most Tier 3 clients, this typically involves four to seven sessions, depending on the size of the estate and the range of strategies being considered. These sessions focus on estate tax reduction techniques as well as capital gains deferral options. Each session is quoted at a flat fee, so you know the cost upfront.
Step 3: Receive a Flat-Fee Proposal for Implementation
Once the design sessions are complete, we provide a flat-fee proposal to implement the strategies reviewed. You then decide which options to move forward with, and in what order. Some clients choose to begin with the core estate planning documents and add advanced strategies later, while others prefer to implement multiple strategies together to take advantage of reduced per-trust costs.
Browse our video library for insights on key estate planning strategies
Selling Nvidia – Capital Gain Deferral/Elimination
Collaboration of Advisors and Family Offices
Make Your Gifts Now: Appreciation in Value More Important Than Using Your Exemption
Estate Planning with Purpose
Navigating the Complex Terrain of Spousal Lifetime Access Trusts in Divorce: A Guide for Family Law Attorneys
Advanced Estate Planning Tools: What is a QPRT?
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