Why Estate Planning Still Matters
Given the dramatic increase in the federal gift and estate tax exemption over the last 20 years, there's a common misconception that federal estate planning is a concern of only the wealthiest individuals. Indeed, with the exemption amount currently at $13.99 million (increasing to $15 million in 2026), most families don't need to be concerned with gift or estate tax liability. However, having an up-to-date estate plan remains critical to ensure that your family is taken care of after your death and according to your wishes.