As we navigate through 2026, many of the “looming” tax concerns from previous years have shifted. While the One Big Beautiful Bill Act (OBBBA) recently increased the federal estate tax exemption to $15 million per individual, your estate plan is about far more than just taxes. It is a living document that must evolve as your life does.
A “set it and forget it” approach can lead to unintended consequences—like an ex-spouse inheriting your 401(k) or a new child being left without a legal guardian. Here are the key triggers that require an immediate review with my office.
The “Big Three” Life Transitions
• Marriage and Divorce: In many states, divorce may automatically revoke a spouse’s status in a Will, but it often does not change beneficiary designations on life insurance or ERISA-governed retirement accounts. Whether you are blending families or starting fresh, your paperwork must reflect your current relationships.
• Births and Deaths: A new arrival means more than just a new beneficiary; it requires naming legal guardians for minors and establishing trusts to manage their inheritance. Conversely, the death of a named executor or beneficiary necessitates a plan for successor roles.
• Relocation: If you moved to or from a community property state (like California or Texas) to a common-law state, your property rights changed the moment you crossed the border. Additionally, state-specific forms for Powers of Attorney and Healthcare Directives vary; an out of-state document can cause delays during a medical crisis.
Wealth and Windfalls
Significant changes in your financial status—whether through a business sale, inheritance, or market growth—demand a strategy shift. With the 2026 exemption at record highs, now is the time to explore advanced gifting strategies and irrevocable trusts to protect your legacy from future legislative shifts.
Next Step: Is your plan reflecting your 2026 reality? Contact Attorney Adam Brown today to schedule a comprehensive review of your documents and ensure your family remains protected.