Attorney Evan Lin, JD, CPA, AEP® recently published an article on the State Bar of Wisconsin’s Solo/Small Firm & General Practice Blog titled “The Impact of the One Big Beautiful Bill Act on Estate Planning.”
In the article, Attorney Lin examines how the One Big Beautiful Bill Act (OBBBA) reshapes the estate planning landscape. Most notably, the lifetime exemption amount has increased to $15 million per individual ($30 million for married couples with proper planning) beginning in 2026, with no scheduled sunset. The Generation Skipping Transfer Tax (GST) exemption will continue to match this amount, and the maximum estate and gift tax rate remains capped at 40%.
While the law preserves key planning tools - including portability, the annual gift tax exclusion, and the step-up in basis - it also reinforces an important trend: for many clients, income tax efficiency now plays a larger role in estate planning than transfer taxes. The article also highlights new charitable deduction limitations and the continued impact of compressed income tax brackets for trusts.
The broad takeaway is that estate planning today is about flexibility, tax efficiency, and thoughtful wealth transfer - not just estate tax minimization.
If you’d like to learn more or read the full article, visit the link below:
https://www.wisbar.org/NewsPublications/Pages/General-Article.aspx
In the article, Attorney Lin examines how the One Big Beautiful Bill Act (OBBBA) reshapes the estate planning landscape. Most notably, the lifetime exemption amount has increased to $15 million per individual ($30 million for married couples with proper planning) beginning in 2026, with no scheduled sunset. The Generation Skipping Transfer Tax (GST) exemption will continue to match this amount, and the maximum estate and gift tax rate remains capped at 40%.
While the law preserves key planning tools - including portability, the annual gift tax exclusion, and the step-up in basis - it also reinforces an important trend: for many clients, income tax efficiency now plays a larger role in estate planning than transfer taxes. The article also highlights new charitable deduction limitations and the continued impact of compressed income tax brackets for trusts.
The broad takeaway is that estate planning today is about flexibility, tax efficiency, and thoughtful wealth transfer - not just estate tax minimization.
If you’d like to learn more or read the full article, visit the link below:
https://www.wisbar.org/NewsPublications/Pages/General-Article.aspx
Shared byBlair Kim - 3 months ago
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