Revisit Your Estate Plan in 2026

Make time to revisit your estate plan in 2026. Anytime tax laws change it can influence how and when you should transfer assets to loved ones. The One Big Beautiful Bill Act affects federal taxes, credits, and deductions for individuals, families, and businesses. The changes will go into effect in January, some are beneficial and some aren’t. 

For instance, there will be a big increase in gift tax exemption to $15 million per individual that will benefit the uber wealthy. This change will be permanent and adjusted according to inflation. The pass-through business deduction will allow sole proprietors, S-Corps, and partnerships to deduct 20% from their federal taxes - a permanent change and a huge benefit to high-income tax payers. 

As for middle-class households, the tax law changes aren’t as impactful. Yes the federal income tax brackets will be permanent. The expanded child tax credit increases from $2000 to $2200. Some service industry workers will benefit from not having to pay taxes on a portion of their tips and overtime income. And qualifying seniors will receive an additional deduction on top of their existing deduction. 

Regardless of your income, when tax law changes are significant you should make time to revisit your estate plan. We may recommend new strategies or recommend changes that align with your current situation. Contact Alloy Wealth at 800-689-3935 to schedule an appointment.