Estate Tax Lawyer in Arkansas
Thinking about the future, especially a future where you might not be around, can feel both scary and sad. Most of us don’t like to dwell on the idea of passing away and leaving our loved ones behind. But none of us is immortal.
And here’s something you need to know: planning for estate taxes now can save your family a lot of stress, confusion, and unexpected costs later.
At Arkansas Legacy Planning, we’ve walked alongside families from all walks of life, helping them protect what they’ve worked so hard to build. You don’t need to be a millionaire to benefit from estate tax planning. And you definitely don’t need to understand every little legal detail—that’s our job. Your job is simply to decide that your family’s future matters enough to plan for.
How Can an Estate Tax Lawyer Help Reduce Estate Taxes?
You may be asking yourself, “Do I really need a lawyer just to handle estate tax matters?” That’s a fair question. After all, you might think you can handle things on your own, especially if you have a smaller estate.
But there are some important reasons why working with an estate tax attorney makes sense. A lawyer can help:
- Spot money-saving opportunities that most people walk right past
- Build a plan that fits your family because no two families are alike
- Take advantage of exemptions and deductions that can dramatically lower your tax bill
- Use smart gifting strategies to shrink your taxable estate
- Set up protective trusts that shield your assets from unnecessary taxation
- Plan for your business’s future so your life’s work continues to thrive
- Navigate Arkansas’s unique legal landscape that affects how your estate is handled
At Arkansas Legacy Planning, we believe in personal, one-on-one attention. Your situation is unique, and so is our solution. We’re here to help you protect your wealth, honor your family, and breathe a little easier.
Estate Tax Planning Strategies
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While it can be uncomfortable to think about what happens after you are gone, a little planning today can save your family heartache and financial stress tomorrow. Here are some strategies that could help minimize your tax liability:
Trusts: Think of trusts as legal containers that hold assets for someone else. An irrevocable life insurance trust, for example, takes your life insurance policy out of your estate so it’s not counted toward estate tax. Other trusts, like a bypass trust, can help married couples avoid double taxes down the road.
Gifting: Gifting is one way to reduce the size of your estate while you’re still around. You can give a certain amount of money each year to as many people as you want without triggering any extra estate and gift taxes. Over time, these gifts can help bring your estate’s value below any taxable thresholds.
Family Limited Partnerships (FLPs): If you own a business or other major assets, you can use an FLP to transfer ownership in smaller chunks to your family members. This can lower how the Internal Revenue Service (IRS) values your stake, so you might not owe as much in estate taxes later.
Charitable giving: If you have causes close to your heart, charitable giving is a win-win. You get to support a mission you believe in, and donations to qualified charities often reduce the taxable value of your estate.
Generation-skipping trusts: This type of trust allows you to leave assets directly to your grandchildren, skipping your children’s generation (in terms of immediate taxation). This can help avoid repeated estate taxes with each generation.
You’ve worked hard for what you have. Now let our lawyers at Arkansas Legacy Planning help you make sure it stays where it belongs: with your family, your causes, and your future.
Exemptions and Limits for Federal Estate Tax
Okay, so do you even need to worry about federal estate tax? The federal estate tax applies only if your estate’s total value goes above a certain number (often called the “exemption amount”). According to the IRS, that number is $13.99 million for an individual in 2025, meaning many people don’t actually owe this tax.
However, it’s wise not to dismiss the possibility. For one, the exemption amount has changed over time and could be lowered in the future. Also, if you own property or other assets that appreciate in value, your estate could grow faster than you expect.
Another important point: While Arkansas does not have its own estate tax, if you own real estate or business interests in other states, those states might impose extra taxes. Working with a lawyer can help you avoid accidentally getting stuck with a large bill just because of an out-of-state vacation home or inherited property.
Whether you think you’re below or above the federal threshold, it’s a good idea to talk with an estate tax attorney if you have any doubts. At Arkansas Legacy Planning, we can help you calculate your estate’s value and show you ways to stay under (or reduce) the taxable amount.
Estate Tax Planning with Arkansas Legacy Planning
Choosing someone to help with estate tax planning is a big deal—maybe one of the most important decisions you will make for your family’s future. What makes Arkansas Legacy Planning stand out?
- We treat you like family: We don’t just care about your estate tax return or assets. We care about you, your hopes, and your concerns. Your plan will reflect what matters most to you because we take the time to listen.
- We look at the whole picture: Taxes matter, but they’re not everything. We consider protection from creditors, planning for potential long-term care needs, business succession, and family harmony. After all, what good is tax savings if it creates family conflict?
- We speak plain English: Ever had a lawyer talk over your head with fancy legal terms? This won’t happen when you work with Arkansas Legacy Planning. We explain everything in language you can understand because we believe you should know exactly what’s happening with your estate plan.
- We’re with you for the long haul: Estate planning isn’t a one-and-done deal. As your life changes, we will be here to update your plan and keep it working for you. Think of us as your family’s legal partner for life.
- We know Arkansas: While federal tax laws apply everywhere, Arkansas has its own rules about property, probate, and powers of attorney. Our deep roots in Arkansas law mean your plan works seamlessly with state requirements.
Above all, we don’t believe in a one-size-fits-all kind of service. Our service is personal, purposeful, and it’s all about protecting your legacy and the people you care about.
Frequently Asked Questions
Federal estate taxes are imposed by the IRS on estates exceeding a certain value. State estate taxes are separate and vary by state. Some states have lower thresholds, which means taxes could apply even if you’re under the federal limit.
Yes, an estate tax lawyer can guide you through an IRS audit, help gather required documents, respond to IRS inquiries, and defend the estate’s valuation or tax filings.
Costs vary depending on your needs. Some estate tax services are charged hourly, while others may have flat fees for specific planning work like setting up trusts. At Arkansas Legacy Planning, we’re upfront about pricing and work to find solutions that fit your goals and budget.
Certain assets or transfers can be excluded from estate taxes, such as property left to a surviving spouse, gifts to qualified charities, and life insurance placed in an irrevocable trust. Some debts and expenses (like funeral costs) can also reduce the taxable value.
Estate taxes are paid by the estate itself before assets are distributed to heirs. If there aren’t enough liquid assets, property may need to be sold to cover the bill. Careful planning can help avoid this situation.
Contact Us
Don’t let estate taxes take a bite out of your family’s inheritance. Our team at Arkansas Legacy Planning is ready to help you keep more of your hard-earned assets where they belong—with the people you love. Let’s start with a conversation. Reach out to our office today
Contact Us
Feeling lost or worried about your future? Our team at Arkansas Legacy Planning is here to provide personalized support for all your estate planning needs. Contact us today so we can start working on a clear, tailored strategy designed specifically to safeguard what matters most to you.
