One Big Beautiful Bill: What It Means For Your Estate Plan

President Trump has signed the One Big Beautiful Bill into law, building on the Tax Cuts and Jobs Act from his first term. This new law brings changes worth knowing about.

For individuals, one of the biggest updates is to the estate tax exemption. Starting January 1, 2026, the exemption for estate, gift, and generation-skipping transfer (GST) taxes is permanently set at $15 million per person and will be adjusted for inflation. This gives families and business owners more certainty and opportunity to plan how their wealth is passed on. If you haven’t updated your estate plan recently, now is a good time.

If you’d like help understanding what these changes mean for you, give us a call at 605-275-5665. We’re here to make sure your plan works for you under today’s rules and into the future.