The Law Offices of Brenton C. McWilliams

The Law Offices of Brenton C. McWilliams can help high net worth families explore estate planning strategies tailored to safeguarding your wealth and legacy. With greater assets comes greater complexity in how to effectively transfer wealth to future generations while minimizing taxes and maintaining control. Here are nine important...

The Law Offices of Brenton C. McWilliams can help you with estate planning, which is especially important if you own a business. Our estate planning attorneys are here to guide you through the process of safeguarding your business legacy with compassion and professionalism. Why Business Owners Need Estate Planning As a business owner,...

The Law Offices of Brenton C. McWilliams can help you create a comprehensive estate plan that reflects your wishes and safeguards your legacy. While estate planning is a positive step towards securing your family's future, there are some common oversights that many people encounter. Let's explore these potential missteps and discuss how...

A common concern among our estate planning clients is whether taxes must be paid on their estate once they die. While there is no state-level estate tax in Alabama, your estate could be subject to federal estate taxes. In 2024, the federal estate tax exemption amount for an individual is $13.61 million (this is adjusted annually according to inflation and, as discussed later on may be subject to law changes in the future). In 2010, the IRS introduced the concept of estate tax portability, which, effectively, doubles the estate tax exemption amount for married couples. This means that if your spouse did not use the full $13.61 million exemption amount at his or her death, you may be able to transfer (“port”) your deceased spouse’s unused exclusion (DSUE) to yourself, increasing your own estate tax exemption amount.