The One Big Beautiful Bill (OBBB), which passed on July 3 and was signed by President Donald Trump on July 4, increases the amount individuals may transfer for federal estate, gift, and generation-skipping transfer tax...more
7/8/2025
/ Budget Reconciliation ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
New Legislation ,
Popular ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Reform ,
Taxation ,
Trump Administration ,
Wealth Management
The Gift and Estate Tax Exclusion is currently scheduled to be reduced by approximately 50% in about 13 months. Without action from Congress, on January 1, 2026, the Exclusion will go from almost $14 million to about $7...more