One Big Beautiful Bill Act

The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. Nestled within its nearly 870 pages of sweeping tax reform and spending cuts was the answer to a question estate planners – and their clients – have been pondering (and planning around) for years:

Will the federal gift, estate, and generation-skipping transfer tax exemption amount fall from $13.99 million to $7 million per individual on January 1, 2026, as scheduled?

Turns out, the answer is no. Instead, OBBBA permanently increases the exemption to $15 million per individual, to be indexed for inflation each year. 

Whether you spent the better half of the last decade carefully constructing a wealth transfer strategy for the specific purpose of reducing exposure to federal transfer taxes, expected to spend the next 5 months scrambling to use up your remaining exemption, or balked in the face of uncertainty and stopped planning altogether, the attorneys at Bravura Group are here to help you understand the impact of the OBBBA on your existing plan and how it might shape your choices going forward.