Estate planning, a task often deferred, is gaining urgency as significant tax and legal changes loom in 2026. Individuals and families are being advised to review their existing plans, as adjustments may be necessary to account for shifts in estate tax exemptions, income tax brackets, and inheritance rules. Several events scheduled for February 26, 2026, aim to provide guidance on navigating these complexities.
The most substantial change stems from the scheduled expiration of key provisions within the Tax Cuts and Jobs Act (TCJA). Currently, individuals can pass on up to without incurring federal estate taxes, with a doubled exemption of for married couples. However, on , this exemption is slated to be roughly halved, falling to approximately per person ( per couple). This reduction could bring a larger number of estates into taxable territory, particularly those holding appreciating assets like businesses, farmland, or real estate.
Beyond the estate tax, other changes are also on the horizon. Standard deductions are expected to decrease, and income tax brackets are likely to shift, potentially impacting retirement and gifting strategies, as well as the tax burden on inherited assets. The generation-skipping transfer (GST) exemption, used in trusts designed to benefit grandchildren and subsequent generations, will also be cut in half. These changes necessitate a comprehensive review of existing estate plans to ensure they remain aligned with current and future tax laws.
Inherited retirement accounts are also subject to new rules. Current regulations may require beneficiaries to empty inherited IRAs within ten years, triggering taxable withdrawals. This can create unexpected tax liabilities for heirs and requires careful planning to mitigate the impact.
Recognizing the need for updated guidance, several organizations are hosting events focused on estate planning. One Education is offering a Wills and Probate Law Course on and , covering Probate Law principles, wills, estates, and inheritance procedures. The course aims to strengthen legal knowledge and support informed decision-making regarding estate administration, executor duties, and tax considerations.
Kearney Real Estate Group is hosting an Estate Planning & Family Dynamics event on , at Coldwell Banker Realty in Larkspur, California. This event focuses on the intersection of estate planning and family considerations.
In Ahrensburg, Germany, the BürgerStiftung Region Ahrensburg is hosting an event titled “Erbrecht und Testament – wie man das Erbe optimal gestalten kann” (Inheritance Law and Testament – how to optimally shape the inheritance) on , at 6:00 PM at the Stormarnschule. The event, led by lawyer and notary Stefan Dehns, will explore options for structuring an estate to ensure assets reach the intended recipients. Registration is required by , and while participation is free, donations to the BürgerStiftung are encouraged. Space is limited.
Cincinnati / Kentucky Elder Law Attorneys are also hosting an event on , from 12:00 PM to 1:00 PM ET, focusing on common mistakes made when executing estate plans and protecting assets and quality of life.
These events underscore the growing awareness of the need for proactive estate planning. The impending changes in 2026 necessitate a thorough review of existing plans, potentially involving adjustments to trusts, gifting strategies, and beneficiary designations. Individuals should consult with legal and financial professionals to ensure their estate plans are optimized to meet their specific circumstances and minimize potential tax liabilities. The shrinking estate tax exemptions, coupled with changes to income tax rules and inheritance regulations, create a complex landscape that requires careful navigation.
The urgency is particularly acute for those whose estates may approach the new exemption thresholds. Even if an estate is currently below the taxable limit, future appreciation of assets could push it over the line. Proactive planning can help mitigate this risk and ensure a smooth transfer of wealth to future generations. Ignoring these changes could result in unintended tax consequences and a less-than-optimal distribution of assets.
