The New Tax Law Is Here. Is Your Trust Ready?

The One Big Beautiful Bill made headlines for increasing the federal estate tax exemption to $15 million per person. But that's not the change trust owners should be watching. Buried deep in the legislation is a little-known deduction limitation that tax professionals warn could result in unexpected double taxation for certain family trusts, including some special needs trusts with assets of just $400,000. If you have a trust, here's what you need to know now and why it's worth reviewing your plan. Read more…