Know Your (Estate) Worth

Published: Thu, 06/26/25

Updated: Thu, 06/26/25

Hello ,

Estate planning may not be glamorous, but a well-crafted plan could preserve millions in assets for your loved ones. Here’s why:

READ NOW: Inheritance Tax - What You and Your Family Should Know

The North Carolina Advantage

No state estate or inheritance tax—a major financial win for residents.
But, federal estate tax still applies on estates over $13.6M per person (double that for couples), with progressive tax rates up to 40% .
- Example: an $18.6M estate could face federal taxes on $5M.

Trust and Tax Obligations

Revocable trusts: treated as part of your personal finances. Income flows through your 1040 return.
Irrevocable trusts: operate separately (via IRS Form 1041), and income above $14,450 is taxed up to 37%—a hefty bite.

READ NOW: Inheritance Tax

⏫ Capital Gains Cliffhanger

Assets passed via revocable trusts often enjoy a step‑up in basis, wiping out capital gains at the time of your passing.

Without that step-up—as in many irrevocable trusts—beneficiaries could face substantial taxes on gains accumulated since the asset’s transfer.

🔍 Why It Matters

Even in tax-friendly NC, federal limits, trust tax brackets, and capital gains exposure can erode your legacy.

By selecting the right combination of trusts, exemptions, and timing, you could significantly reduce the tax burden on your heirs.

Understanding estate and tax planning doesn’t have to be overwhelming. With no estate or inheritance tax in North Carolina, you’re already ahead—but federal taxes, trust rules, and capital gains can still impact your legacy. Want to ensure your plan protects your assets and loved ones? Schedule a consultation today and get personalized guidance tailored to your unique situation.

Schedule a FREE consultation today and start protecting what matters most.

📍 McIntyre Elder Law – Offices in Shelby, Charlotte & Hendersonville
📞 Call us at 1-888-999-6600
🌍 Visit www.mcelderlaw.com

Talk to an Attorney

Thank you for reading our e-newsletter dedicated to protecting your assets and planning for long-term care. We look forward to assisting you with strategic legal solutions that ensure your peace of mind.

Click to schedule a FREE consultation

Greg McIntyre

Elder Law & Estate Planning Attorney

Click to schedule a FREE consultation

P.S. Sharing is caring! Forward this newsletter to someone who may benefit from understanding the power of Revocable Living Trusts.

Attend one of our FREE community events!

Regards,
Greg McIntyre
Elder Law Attorney

McIntyre Elder Law
"We help seniors maintain their lifestyle and preserve their legacies."
www.mcelderlaw.com
Phone: 704-749-9244
Fax: 866-908-1278

112 South Tryon Street
Suite 760
Charlotte North Carolina 28202
USA

Unsubscribe | Change Subscriber Options