Family trusts and estate plans rarely stay static over the years. New beneficiaries may be added, financial markets may shift, and life changes can alter retirement goals. While trusts are designed to last, they shouldn’t be treated as “set-it-and-forget-it” arrangements.
Conducting regular reviews of trust and estate documents is a best practice for any successful legacy planning, but it’s especially important right now. With new estate planning rules in effect for 2026, the moment for a review is now. You might be overlooking tax strategies and other opportunities that take advantage of these new rules.
At Astra, we offer holistic guidance on how to update your trust and estate documents in service of your family wealth goals. We treat your legacy with the same care as your capital.
Major Estate Tax Changes
Recent federal legislation has created more flexibility for Americans to inherit generational wealth that’s exempt from taxes. One of the more impactful changes is to the lifetime estate exclusion, which is the amount individuals can transfer (during life or at death) before estate taxes apply. Thanks to the One Big Beautiful Bill Act (OBBBA), the lifetime estate exclusion has increased to $15 million per individual, which will be adjusted annually for inflation going forward.
Further complicating the rule change: Many estate plans were built around the expectation that the exclusion would drop in 2026 under prior law. As a result, many estate plans now require a close review to ensure that these shifts in estate taxes are properly accounted for.
What to Review in Your Trust
Any trust review should have the goal of making sure your plan reflects both family priorities and the current tax environment. Among your major considerations should be:
- When to Make Large Gifts: Thanks to recent federal legislation, the lifetime estate and gift tax exclusion is $15 million per individual in 2026, with future inflation adjustments under current law. Some trusts may benefit from transferring assets or making large gifts in the near future while the threshold is historically high, just in case. By doing so, families can benefit from the appreciation of those assets and limit their lifetime tax exposure.
- Family Circumstances: Don’t overlook the basics. Every family’s circumstances and financial goals evolve over time. It’s worth reviewing whether your current structure is still optimal or whether specialized alternatives — such as Spousal Lifetime Access Trusts (SLATs) or Grantor Retained Annuity Trusts (GRATs) — might offer advantages.
- Charitable Giving: Charitable planning can also be worth revisiting. Depending on your goals, your team may evaluate trust and estate strategies alongside related tax-smart giving approaches, such as charitable trusts, donor-advised funds, or qualified charitable distributions from IRAs where appropriate.
Your documents should be aligned with the evolving landscape of rules and regulations. Also, the most effective reviews happen when fiduciary, legal, and tax guidance work together.
Don’t Wait to Review Your Plan
With estate-tax rules shifting and new opportunities available to families, now is the right time to speak to a professional about your legacy plan. At Astra, we understand the unique challenges wealthy families face and provide them with guidance that leaves clients feeling:
- Knowledgeable of the existing rules around estate taxes, plus the best approaches for how to navigate them.
- Confident that the details of their trust or estate reflect current beneficiaries, life circumstances, and family goals.
- Primed for success, having chosen to take advantage of opportunities while they still remain available, with an eye toward tax efficiency.
A proactive review today can help ensure your trust continues to protect your legacy and support the people you care about most.
Other areas worth reviewing
A strong legacy plan review is not only about federal estate taxes. It should also confirm that your trustees, executors, and beneficiary designations still reflect your wishes, that assets are titled properly, and that your trust is funded as intended. Families who have moved, sold a business, taken on concentrated stock positions, or experienced major life changes may also need to revisit state tax exposure, liquidity needs, and succession planning.
The Astra Approach
We believe in creating custom solutions that represent the unique values of the families we work with. We’re not here to impose templates. We’re here to help you make thoughtful decisions, keep your plan current, and protect the people and priorities that matter most.
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Tyche Wealth Partners LLC (“Astra Wealth Management”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Astra Wealth Management and its representatives are properly licensed or exempt from licensure.
The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.
