Estate Tax & Asset Protection Planning – Preserve Your Wealth
Smart Planning for Complex Estates
Reduce taxes, keep control, and simplify transfers
For higher-net-worth households, state and federal rules can affect how much reaches your heirs. Scott Brower Law Offices integrates tax-aware strategies into
estate planning so your plan is efficient today and adaptable if laws change.
Illinois vs. Federal Landscape
What matters and when it applies
Illinois may impose tax when estates exceed the state threshold, while federal tax applies only to very large estates. Married couples often benefit from planning that fully uses each spouse’s allowances and avoids stacking all assets into one taxable estate.
Strategies we often recommend
Tailored tools for your balance sheet
- Credit shelter trust — preserve each spouse’s exemption and reduce state exposure.
- Lifetime gifting — shift assets and future growth out of the estate using annual exclusions and lifetime allowances.
- Irrevocable life insurance trust — keep large policy proceeds outside the taxable estate.
- Charitable strategies — pair charitable intent with benefits for your family.
- Closely held entities — LLCs and partnerships to centralize management and aid transfer planning.
We explain the trade-offs plainly and coordinate with your advisor team for seamless implementation.
Asset Protection, Done the Right Way
Proactive steps for professionals and business owners
Thoughtful structures can help shield family wealth from future claims—combined with proper insurance and sensible titling. The key is to act well before any issue arises; we recommend options that are lawful, transparent, and aligned with your objectives.
Who Benefits Most From Tax Planning
Know when it’s time to go beyond the basics
Couples approaching state thresholds, owners with appreciating businesses or real estate, and families expecting significant inheritances gain the most from early planning. If you’re under those levels, we keep your plan simple and cost-effective—and revisit as your assets grow.
FAQs about estate tax planning
Clarity on Thresholds and Tools
Does Illinois have an inheritance tax?
Illinois has an estate tax, not an inheritance tax. Beneficiaries do not pay a separate state tax on what they receive.
Will a living trust reduce estate taxes?
A basic revocable living trust does not reduce taxes; it mainly avoids probate. Tax reduction typically involves irrevocable strategies.
Can gifting help?
Yes. Strategic lifetime gifts can reduce a taxable estate and shift future growth to heirs or trusts.
Do laws change often?
Exemptions and rules can shift. We review plans periodically to keep them aligned with current law.
Let’s build a tax-smart plan
Move more to the people and causes you love
We’ll review your assets, map options, and create a clear action plan with timelines and tasks—so you see progress quickly and stay confident about the results.
