Estate Planning For 2026 And Beyond

The last few years have seen significant changes to income tax and estate tax law, including higher gift tax exemptions and the ages for required minimum distributions from IRAs. These changes will affect estate planning for the foreseeable future. If your estate plan is more than two years old or if your circumstances have significantly changed since your plan was implemented, you are due now for an estate plan checkup.

Talk to one of our attorneys about your plan and what changes need to be made. Call Sjoberg & Tebelius, P.A. at 651-315-8856 to schedule an appointment, or use our online form to get in touch.

If you are tempted to skip estate planning because you think your estate is too small, remember that estate planning isn’t just about taxes. Proper planning can:

• Avoid state inheritance/death taxes that have lower exemptions than federal taxes
• Avoid probate, which can be quite expensive and time-consuming in some states
• Ensure your assets are distributed the way you want
• Protect an inheritance from irresponsible spending, a child’s creditors, and from being part of a child’s divorce proceedings
• Provide for a loved one with special needs without losing valuable government benefits
• See that control of your assets remains in the hands of the person you trust most
• Provide for minor children or grandchildren
• Help protect assets from creditors and frivolous lawsuits (especially important for professionals)
• Protect you, your family and your assets in the event of incapacity
• Help you create meaningful charitable gifts

Regardless whether your estate is large or small, it is critical that professional planning begins as soon as possible. Also, with Congress looking for more ways to increase revenue, many reliable estate planning strategies are subject to change.

The time to plan (or update your plan) is now.