Estate Planning

Review Your One Big Beautiful Estate Plan: Estate and Tax Changes under the OBBBA

Kenton L. Ball — Tue, 28 Oct 2025 04:00:00 GMT

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA), a sweeping tax reform package that reshapes the financial landscape for high-net-worth families. From estate tax exemptions to new savings vehicles for children, the Act presents both opportunities and strategic considerations for those looking to preserve and grow their wealth across generations.

Put Portability in Your Plan – Changing Gift Tax Exemption Regulations for Spouses

Alan N. Linker — Mon, 12 Sep 2022 04:00:00 GMT

Personal estate plans that reflect yours and your loved ones’ needs can help ease financial burdens for them in the future. New guidance from the IRS takes both yours and your spouse’s estate tax exemptions into consideration, allowing for the option to elect “portability” of your exemptions in certain cases. This opportunity can help to alleviate financial stress for those who have unfortunately lost a spouse, but its implementation is time sensitive, so it’s important to know how and when to act.

Give Now, Save Later – Capturing Current Estate and Gift Tax Exemptions

Alan N. Linker — Mon, 29 Aug 2022 04:00:00 GMT

Many people think of an estate plan as a way for their assets to be distributed in the future, after their deaths. However, in some situations, it may be more advantageous to make at least some of those planned gifts now—and help your loved ones avoid some of the financial burden of estate taxes. Especially for individuals with high net worth, taxes could become much greater when the currently increased lifetime exemption amount “sunsets” on January 1, 2026.

Revocable Trusts—Are They Right for You?

Phillip A. Pearson — Thu, 07 Jul 2022 04:00:00 GMT

When it comes to planning for your financial legacy, concepts and strategies tend to be complicated and often overwhelming, so it’s only natural that people look for simple solutions to their not-so-simple problems. Revocable, or “living”, trusts are often touted as a cure-all for estate planning ailments, but no estate planning strategy is “one size fits all,” so it’s best to look carefully at your particular situation and make sure a revocable trust is really the best choice for your estate plan.

Divorced? It’s Time to Update Your Estate Plan

Su H. Kang — Wed, 11 May 2022 04:00:00 GMT

Most people create their estate plans while they are married—leaving all of their assets to the surviving spouse and putting the surviving spouse in charge of their affairs upon death or incapacity. However, if you’ve recently gotten divorced and haven’t touched your estate plan since, an update is long overdue.

Your Estate Plan Needs a Back-Up Plan

Alan N. Linker — Mon, 04 Apr 2022 04:00:00 GMT

Because few people want to think about the circumstances where their estate plan would come into play, even fewer think about the consequences if their estate plan may not be able to be carried out as they wished. This most frequently occurs in the event that designated individuals are unable to perform the duties allotted to them. Here are a few of the roles for which you should designate a back-up in your estate plan—and what could happen if you don’t.

Why You Should Create a Living Will and Power of Attorney for Your Eighteen-Year-Old

McBrayer PLLC — Thu, 17 Feb 2022 05:00:00 GMT

By the time their child turns eighteen, parents are well-accustomed to being able to advocate for their child in a number of ways and access information that helps them care for their child. However, once their child has reached the age of legal majority, parents must be granted permission by their child to access information such as medical records and bank accounts and can no longer speak or sign for their child in a legal capacity. In the event of an emergency, this can cause some serious complications for parents and children alike.

When Virtual is Valuable: Planning for Your Digital Assets

Phillip A. Pearson — Fri, 28 Jan 2022 05:00:00 GMT

Even in our technology-centric world, people’s estate plans often only account for “traditional” assets, like a car, checking account, house, etc., for example. More and more, however, an individual owns digital assets as well. With this in mind, a reasonable person would then ask: how do you build a strategy for your legacy that ensures your “virtual”—but still very real—assets are also protected?

Don’t Delay—Proposed Changes to Estate Tax Law Aim to Eliminate Step-Up in Basis

Ivan J. Schell — Mon, 23 Aug 2021 04:00:00 GMT

If you’ve been waiting for the “right time” to start planning your estate, don’t wait any longer—the right time may be in the rearview before you know it. With a new administration in the White House, tax reform is on the agenda in Washington, and the proposed changes would have a major effect on many estates, especially for high-net-worth individuals.

An Estate Planning Tool You Can Trust: Spousal Lifetime Access Trusts (SLATs)

Maxine E. Bizer — Thu, 03 Jun 2021 04:00:00 GMT

With estate and gift tax exemptions at a historical, all-time high (over $11.5 million per person), it’s the perfect opportunity for married couples to take advantage of a unique estate planning tool: the Spousal Lifetime Access Trust, or SLAT. Before the current exemption is cut in half on January 1, 2026, we recommend that spouses explore the benefits of establishing a SLAT – not just for the benefit of one another, but for children and grandchildren – in order to reap the most from current tax protections.