TCEPC February 24th Morning Meeting
7:30 AM - 9:00 AM
Zoom

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Heckerling Review

The analysis of the Heckerling Institute on Estate Planning's discussions and outcomes, particularly focused on major 2026 tax changes like the permanent increase of the federal estate/gift tax exemption to around $15 million per person (or $30M for couples), moving away from sunsetting TCJA rules, alongside ongoing debates about step-up in basis and implementation of advanced wealth transfer strategies. Expect reviews to cover key trends in trusts, tax law, and wealth management, addressing legislative uncertainty and expert insights on future estate planning. 

Key Themes from Anticipated Heckerling Reviews (2026):

• Estate Tax Exemption: The biggest topic is the permanent, higher exemption, making large estates tax-free, contrasting with the scheduled 2025 sunset.
• TCJA Sunset/Legislation: Discussions will center on Congress's inaction on the Tax Cuts and Jobs Act (TCJA) and the de facto permanence of higher exemptions.
• Step-Up in Basis: Intense debate continues on whether trusts outside the estate receive a fair market value basis step-up at death, with high stakes for CPAs and families.
• Trusts & Wealth Transfer: Practical strategies for irrevocable trusts, wealth transfer, and effective planning in an evolving tax landscape.
• Annual Gift Tax Exclusion: The 2026 amount remains at $19,000 per person, with analyses on utilizing this