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Tax Reform Tax Planning Estate Tax

Hughes Hubbard & Reed LLP

Trump Law’s Estate Tax Exemption Is a Boon for Wealth Planning

President Donald Trump’s massive tax-and-spending package requires attention from both individuals and estate planners to advance their estate and income tax planning objectives. Originally Published by Bloomberg Law. ...more

Frantz Ward LLP

Key Estate Planning Considerations Resulting From the One Big Beautiful Bill Act (OBBBA)

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On July 4, 2025, the One Big Beautiful Bill Act (the “Act”) was signed into law, bringing with it important changes to the federal estate, gift, and generation skipping transfer (GST) tax system. Many of the provisions in...more

Rivkin Radler LLP

The Enactment of OBBBA: It’s Time to Plan, Not Relax – “Winter is Coming”

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In the months preceding the general election in 2024, the owners of many closely held businesses who had not yet given much thought to the disposition of their future estates, including their businesses, decided they should...more

Haynes Boone

Federal Estate, Gift and GST Tax Highlights from the One Big Beautiful Bill Act

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The recently enacted One Big Beautiful Bill Act (OBBBA) brings sweeping and permanent changes to the federal estate, gift and generation-skipping transfer (GST) tax landscape. Most notably, it significantly increases the...more

Cozen O'Connor

The Big Beautiful Bill: What Every High Net Worth Family Needs to Know

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The One Big Beautiful Bill Act (OBBBA), signed by President Donald Trump on July 4, 2025, brings sweeping changes to the tax code. While the name may sound like a marketing pitch, the law itself includes significant updates...more

Shumaker, Loop & Kendrick, LLP

Client Alert: The One Big Beautiful Bill: Major Tax Reforms That Could Reshape Your Planning

The One Big Beautiful Bill (OBBB), signed into law on July 4, 2025, introduced major changes impacting individual, estate, state, local, real estate, and business tax rules. Understanding these updates is key for tax...more

Davies Ward Phillips & Vineberg LLP

Major U.S. Tax Legislation Enacted Without Retaliatory Tax Provision

This bulletin follows our previous update on evolving U.S. tax reform, which highlighted the competing House and Senate proposals, particularly the introduction and scope of proposed Section 899 targeting "unfair foreign...more

Mintz

Understanding the One Big Beautiful Bill Act: Key Tax Changes for Business Owners and Estate Planning Clients

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The One Big Beautiful Bill Act (OBBBA) became law on July 4, 2025. This legislation introduces changes that will impact estate, tax, and business planning strategies for many business owners and high-net-worth individuals and...more

Holland & Knight LLP

Washington State Budget Triggers Higher Business, Capital Gains and Estate Taxes in 2025

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Thanks to three primary revenue bills that were signed into law earlier this year, taxes are going up in the state of Washington, in particular for large service businesses, estates and individuals earning capital gains. ...more

Verrill

Permanent Exemptions and New Deductions: What the 2025 Tax Law Means for Estate and Tax Planning

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On July 4, 2025, President Trump signed into law the 2025 Budget Reconciliation bill, commonly known as the One Big Beautiful Bill Act (“Act”). This legislation extends several provisions from the Tax Cuts and Jobs Act...more

Goulston & Storrs PC

The One Big Beautiful Bill: Continuity and Change in Personal Planning

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On July 4, 2025, the One Big Beautiful Bill Act (the “OBBB”) was signed into law. Introduction - Many Americans will experience the OBBB as a continuation of income and transfer tax laws passed during the President’s...more

Lowenstein Sandler LLP

One Big Beautiful Bill and Three Key Planning Notes

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Last week, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBBA). At nearly 900 pages in length, OBBBA’s size lives up to its name by enacting sweeping changes to estate and gift taxes, income taxes,...more

Gould + Ratner LLP

Your Guide to the Tax Implications of the One Big Beautiful Bill

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The Tax Cuts and Jobs Act (“TCJA”), which was signed into law on December 22, 2017, made some of the most significant changes to the tax law since the Tax Reform Act of 1986. Absent further legislation, many of the provisions...more

Williams Mullen

Implications of the One Big Beautiful Bill Act on the Basic Exclusion Amount and GST Exemption

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By way of background, in 2012, the basic exclusion amount and GST exemption were permanently increased to $5 million, with that amount indexed for inflation. The 2017 Tax Cuts and Jobs Act (TCJA), temporarily increased the...more

Rivkin Radler LLP

Closely Held Businesses and Their Owners Ask: What’s Big and Beautiful in the Recent Tax Law?

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The “One Big Beautiful Bill Act” (the “Act”) was signed into law last week, on July 4. As promised by the White House, the Act extends – i.e., purports to make “permanent” – many of the otherwise expiring provisions that were...more

Kelley Drye & Warren LLP

What’s in the Newly Enacted One Big Beautiful Bill Act

On July 4, 2025, President Trump signed into law the ​“One Big Beautiful Bill Act” (the ​“2025 Act”). The Act makes permanent some provisions originally enacted in 2017 as part of the Tax Cuts and Jobs Act (the ​“2017 Act”),...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Unpacking the One Big Beautiful Bill: What Changes Are Required to Optimize Your Estate Plan?

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA”) into law. The OBBBA is the tax and budget reconciliation package for the current 2025 fiscal year through 2034. While the bill focuses primarily...more

Foster Garvey PC

One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part II – Estate and Gift Tax

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In this second installment of our multi-part series on the One Big Beautiful Bill Act (the “Act”), my colleague David Knutson and I discuss the changes made by the Act to the federal estate and gift tax regime....more

Frost Brown Todd

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later...

Frost Brown Todd on

On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget...more

Goodwin

OBBBA Solidifies High Estate Tax Exemptions & Charitable Giving Changes

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President Trump’s July 4th signing of the Opportunity, Balance, and Better Budget Act sets an increased $15 million federal estate and gift tax exclusion and generation-skipping transfer tax exemption per individual,...more

Ruder Ware

One Big Beautiful Bill Act: Stay Tuned for Our Client Alert Series

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As you may be aware, on July 4, 2025, a landmark piece of tax legislation – commonly referred to as “One Big Beautiful Bill Act” – was signed into law, ushering in some of the most significant changes to the tax code in...more

Cozen O'Connor

Expansion of QSBS Benefits Under the One Big Beautiful Bill

Cozen O'Connor on

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which had narrowly passed through the United States Congress. The OBBBA makes permanent certain tax provisions that were due to expire...more

Loeb & Loeb LLP

The One Big Beautiful Bill Act: Breaking Down Key Changes In The New Tax Legislation

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The enactment of the One Big Beautiful Bill Act (OBBBA) has ushered in significant tax legislation based predominantly on the Trump administration’s stated priorities. ... Below we summarize some of these key changes and note...more

Mintz - Tax Viewpoints

Senate Finance Committee’s Take on the One Big Beautiful Bill Act

Mintz - Tax Viewpoints on

Following our prior alert on the House Ways & Means Committee version of the One Big Beautiful Bill Act (“OBBBA”), the House passed its version of the OBBBA (“House Bill”) on May 22, 2025, and on June 17, 2025 the Senate...more

Tarter Krinsky & Drogin LLP

Now Is the Time to Revisit Trusts & Estates Plans, as Tax Exemption Law Changes Are on the Horizon

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act by a single-vote margin. This bill adopted many of the recommendations of the House Ways and Means Committee, with a few changes along the...more

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