Summary
The 2026 estate tax cliff took effect as provisions from the 2017 Tax Cuts and Jobs Act expired, sharply reducing the amount wealthy families can pass on tax-free. The exemption dropped from about $14 million per individual in 2025 to roughly $7 million in 2026, exposing more estates to a 40% federal tax. Families that failed to act before the deadline now face significantly higher tax liabilities, potentially costing millions. Strategic gifting and trust planning before 2026 allowed some to lock in higher exemptions, but those who delayed must now navigate a far less favorable tax environment.
Finance Monthly
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