How New Laws Could Affect Your Legacy Planning
September 25, 2025
As H.R. 1 – more commonly referred to as the “One Big Beautiful Bill” – was hotly debated in Congress, much of the talk revolved around how the many aspects of the legislation would combine to impact the country’s spending and deficit as a whole.
Now that the bill is signed into law, there are many items for individuals to be aware of. This is especially true for retirees and those looking to retire. They should consider the many relevant changes as they map out a legacy.
If you have or are looking to form a plan for your legacy, be aware that the new laws now state:
Higher Exclusion Limits
Gift, estate, and generation-skipping tax exclusion amounts are increased. The new amount is $15 million per individual ($30 million per married couple). It will be indexed for inflation. This increased amount begins for gifts made and estates of decedents dying after December 31, 2025.
Charitable Deductions for All
Those who do not itemize deductions can now claim a charitable tax deduction. It will be $1,000 for individuals and $2,000 for married couples filing jointly.
Expanded Education Benefits
Definitions for qualified educational expenses are broadened. This will be for students attending elementary and secondary public, private, or religious schools. Beginning in 2026, the total limit for K-12 education expenses increases from $10,000 to $20,000.
New Accounts for Newborns
New accounts will see the government contribute $1,000 for U.S. citizen children born between December 1, 2025 and December 31, 2028. Accounts can be created for those born outside the window, with up to $5,000 in additional contributions allowed.
Savings and investments are common concerns when planning for or living through retirement. However, it is also important to consider any estate or legacy you wish to pass on to family and loved ones. Educate yourself on all available options. This is a great way to work towards a plan that best aligned with your ultimate goals.
Schedule a meeting and learn how you can use new laws and legislation to help shape the future you want for yourself and others.
Source: https://www.jdsupra.com/legalnews/estate-planning-provisions-in-the-one-6624435/