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Big changes are on the horizon for estate planning. Unless Congress acts, key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) are set to expire on January 1, 2026. For Georgia families, this could mean higher estate taxes and fewer opportunities to transfer wealth tax-free. Acting now—before the sunset—may save your heirs significant money and stress.
What’s Changing in 2026?
The TCJA temporarily doubled the federal estate and gift tax exemption. For 2025, the exemption is estimated to be over $13 million per person (or $26 million per married couple). But in 2026, that exemption will be cut roughly in half, dropping to an estimated $6–7 million per person.
That means many families who currently wouldn’t owe federal estate taxes could suddenly find themselves exposed.
Why This Matters for Georgia Families
Georgia does not have a separate state estate tax. However, the federal estate tax can still apply to Georgia residents with larger estates. The lower exemption in 2026 could impact:
- Family-owned businesses
- Farms and landholdings
- Investment portfolios
- High-value real estate
Without proper planning, heirs may be forced to sell assets to cover estate tax bills.
Strategies to Consider Before 2026
1. Gifting Assets Now
Consider using the current higher exemption to gift assets outright or through trusts. This locks in today’s larger exemption before it disappears.
2. Spousal Lifetime Access Trusts (SLATs)
A SLAT allows you to use your exemption while still giving your spouse access to trust assets. This is a popular strategy for married couples.
3. Irrevocable Trusts
Placing assets into irrevocable trusts can remove them from your taxable estate, preserving more wealth for beneficiaries.
4. Family Business Succession Planning
If you own a business, now is the time to create or update a succession plan. A sudden estate tax burden could put your company at risk.
5. Charitable Planning
Charitable trusts and gifts can reduce taxable estate value while supporting causes important to you.
For detailed guidance on estate tax exemptions, see the IRS Estate and Gift Tax page.
Don’t Wait Until It’s Too Late
The 2026 estate tax sunset may seem far away, but estate planning strategies take time to structure correctly. Acting now can help you maximize today’s generous exemption amounts. Our Georgia estate planning attorneys can help you design a tax-efficient plan that protects your family’s future.
Final Thoughts
The expiration of the TCJA provisions in 2026 could have a major impact on Georgia families with significant assets. By planning ahead, you can reduce your taxable estate, protect your heirs, and make the most of current laws before they change
