You’ve probably noticed: estate planning is having a moment. Every time I meet with a client lately, the conversation seems to gravitate toward questions about exemptions, taxes, and “what if” scenarios related to developments in Washington.
It’s understandable. The current federal estate tax exemption — $13.99 million per person — is the highest it’s ever been. But unless Congress acts, that number will be cut roughly in half at the end of next year. And while there’s chatter about keeping or even raising the limit, we won’t know for sure until it’s too late to react.
This kind of uncertainty has a way of paralyzing people. I’ve heard more than one client say they’d rather wait and see what happens before making any big moves. But here’s the thing: waiting almost always makes planning harder, not easier.
So let me share a few reasons why this is a good time to revisit your estate plan, even if the rules aren’t set in stone yet.
Why now makes sense
The window we’re in — high exemptions, strong markets, and relatively favorable rules — won’t stay open forever. Even if the laws don’t change right away, there’s no downside to having a plan that works under both today’s rules and tomorrow’s possibilities.
If your estate is anywhere near the current exemption amount, it’s worth thinking through options now. And if you’re well below it? You still want a plan that minimizes stress and confusion for your family down the line.
What we’re helping clients with
Here are a few of the strategies I’ve been walking clients through this lately:
- Annual gifting. In 2025, you can give up to $19,000 per recipient without touching your lifetime exemption. For a couple with a few kids and grandkids, that’s a meaningful amount to remove from your taxable estate every year, especially when combined with thoughtful charitable giving strategies.
- Larger lifetime gifts. Some families are choosing to move assets now, locking in today’s higher exemptions. It works especially well with property or investments you expect to grow in value.
- Moving or revisiting state residency. Many states have their own estate taxes, with thresholds that are significantly lower than the federal level. Where you live — or even where your vacation home sits — can create surprise tax bills.
- Updating documents. Wills, trusts, and healthcare directives should reflect your current family situation and wishes, not what made sense a decade ago. If it’s been a while since you reviewed them, this is a good time to schedule a financial review.
It’s not just about taxes either. A thoughtful estate plan helps avoid family conflict, protects heirs who may not be ready to manage wealth, and ensures your intentions are clear.
What’s next
If you’re not sure where to start, I encourage you to take the first step — even if it’s just sitting down with your current documents and asking yourself whether they still accurately reflect what you want.
At Mendel Money Management, we view estate planning as an ongoing part of your financial life, not a one-time event to be checked off when you turn 65. And the sooner we can put a solid plan in place, the more flexibility you’ll have, no matter what happens with the laws.
If you’d like to talk through what these changes could mean for you and your family, let’s set up a time to chat. It’s estate planning season here, and I’d be happy to help.
The views expressed represent the opinions of Mendel Money Management as of the date noted and are subject to change. These views are not intended as a forecast, a guarantee of future results, investment recommendation, or an offer to buy or sell any securities. The information provided is of a general nature and should not be construed as investment advice or to provide any investment, tax, financial or legal advice or service to any person. The information contained has been compiled from sources deemed reliable, yet accuracy is not guaranteed.
Diversification and asset allocation do not ensure a profit or guarantee against loss.Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov. Past performance is not a guarantee of future results.
