Law Office of Natalie J. Miller, PLLC

Don't take a hit from estate taxes.

We are committed to developing asset preservation solutions to ensure your loved ones are cared for. Whether your require a will, a trust, or a more complex plan, Natalie Miller will work with you to formulate and implement a plan specific to your needs and desires. She will offer advice on how to avoid probate in North Carolina. Our office offers highly personalized estate plans to minimize or in some cases avoid estate taxes.

Most relatively simple estates (cash, publicly traded securities, small amounts of other, easily valued assets and no special deductions or elections or jointly held property) with a total value under $2,000,000 and a date of death in 2006 do not require the filing of an Federal Estate Tax Return. The North Carolina Estate Tax Return must be filed with the North Carolina Department of Revenue at the same time the federal estate tax return is due, which is nine months from the date of death. If estate taxes are a concern, our office offers highly personalized estate plans to minimize or in some cases avoid estate taxes.

As a part of our estate planning practice, we prepare wills, durable powers of attorney, health care powers of attorney, living wills and various types of trust agreements. Our office can assist in the transfer of property to meet your estate plan objectives. Moreover, we offer advice and prepare beneficiary forms for life insurance, retirement accounts and other non-probate assets. If appropriate, our office can organize various types of business entities, like a family limited partnership, to meet our clients goals.

A Family Limited Partnership is an entity that transfers ownership of a family business out of the business owner?s gross estate. After ownership is transferred to the Family Limited Partnership some relatively small portion of the business can be gifted to the children, while control over the business remains with the parent. To establish a Family Limited Partnership there must be two partners, a general partner and a limited partner. The general partner may have complete control over the business affairs, subject to the limited partner?s fiduciary responsibility. The limited partner may only be an investor with no control over the daily operations. If properly structured, only the general partner is liable for the obligations of the limited partnership. There are very specific requirements and procedures for establishing a Family Limited Partnership. However, when properly created the partnership could result in substantial estate tax savings.