Pass on what you've built, on your terms

A plan does not change how much you own; it changes how smoothly, how privately, and how fully it reaches the people you care about. Without one, the default process — probate — makes those decisions for you.

• Probate is public and slow. With no plan, much of what you own passes through probate court, a process that is part of the public record and can take months or longer before anything reaches your heirs.
• Delay and cost eat into the estate. Court timelines, professional fees and administrative costs all come out of the estate first — money that could otherwise have gone to the people you intended.
• A plan keeps you in control. A will, a trust and the right directives let you decide who receives what and who acts on your behalf — privately, and on your terms, rather than under a default set by law.

You do not need everything at once, but most plans are built from the same few pieces. Each covers a different job, and they are meant to work together rather than in isolation.

• A will. Sets out who receives what, and names guardians for minor children. It is the backbone of a plan, but on its own it still passes through probate.
• A revocable living trust. Holds assets and directs them to your heirs without probate, privately and often faster. You keep full control of it during your lifetime and can change it at any time.
• Powers of attorney. Name who can manage your finances and make healthcare decisions if you become unable to — the part of a plan that protects you while you are still living, not just after.
• Beneficiary designations override your will. Retirement accounts, insurance and many other accounts pass directly to whoever is named on them — and that designation beats whatever your will says. A stale beneficiary form is one of the most common, and most avoidable, estate mistakes.

By the numbers

The 2026 federal numbers

The federal thresholds that frame this year’s planning. Most estates fall well under the exemption — but the federal figure is only half the picture.

• $15M / $30MFederal estate & gift exemption — per person / per coupleSource: IRS / OBBBA, 2026
• $19,000Annual gift exclusion per recipient — $38,000 split by a coupleSource: IRS, 2026

Many states levy their own estate or inheritance tax at far lower thresholds than the federal level — your adviser and attorney will check your state.

The federal exemption is high enough that most estates owe no federal estate tax. But the federal number is not the whole story — where you live can change the outcome entirely, which is why a plan is built around your own state, not a national average.

• State thresholds can be far lower. A number of states impose their own estate or inheritance tax, and several kick in at thresholds well below the federal exemption — so an estate that owes nothing federally can still owe at the state level.
• The rules vary widely. Which assets count, who is taxed, and at what rate differ from state to state, and they change. This page stays general on purpose; your own state is a question for your adviser and an estate attorney.
• Plans are built locally. Because both the tax and the documents that are valid depend on your state, a sound plan is put together with professionals licensed where you live, not from a one-size-fits-all template.

Book a session with an adviser

We arrange private introductions to regulated financial advisors for individuals and families with investable assets of $250,000 or more.

• Investable assets $250k+
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• Free initial consultation
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