On July 4th, a major piece of tax legislation was signed into law. While not every provision of the One Big Beautiful Bill will apply to your situation, several key changes could influence how you give, plan for retirement, and support your family.
We’ve created a summary tailored to families like yours: those navigating their peak earning years, preparing for retirement, and thinking about what’s next.
Key Highlights for Families Navigating Wealth Planning
CHARITABLE GIVING IS CHANGING IN 2026
A new 0.5% AGI floor and a 35% deduction cap will affect how charitable donations are treated. If you give regularly or are planning a significant gift, 2025 may offer a more favorable window.
ESTATE PLANNING WINDOW OPENS
The federal estate tax exemption increases to $15M per person in 2026. If you’re thinking about gifting to children or supporting family across generations, this is an ideal time to revisit your plan.
MORE FLEXIBILITY WITH 529 PLANS
529 Savings Plans can now be used for K–12 tuition up to $20K per year and for certifications and licenses, not just college. This may be helpful if you’re supporting a grandchild or adult child.
TAX PLANNING FOR INCOME YEARS
Enhanced SALT deductions and permanent income tax brackets allow for more intentional planning around Roth conversions, retirement withdrawals, or business income.
Understanding how these changes may affect your financial life requires more than just reading the headlines. Whether you’re planning a charitable gift, preparing for retirement income needs, or thinking about how to support your family in the years ahead, we’re here to help you evaluate what’s relevant and make thoughtful decisions with clarity and confidence.
Click here to read the full summary.
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