2026 Florida Estate Planning: Strategic Tips for Families
As the calendar turns to 2026, the landscape of estate planning has reached a significant crossroads. For many years, American families have operated under the generous provisions of the Tax Cuts and Jobs Act of 2017, which dramatically increased the amount of wealth an individual could pass on to heirs without incurring federal taxes. While many expected these benefits to vanish in a cloud of sunset provisions on the first day of 2026, recent legislative developments, such as the One Big Beautiful Bill Act, have reshaped the horizon. Whether you are managing a substantial family legacy or simply ensuring your home and savings are protected for the next generation, 2026 is the year to move beyond basic documents and focus on strategic preservation.
The most prominent headline for 2026 is the stabilization of the federal estate and gift tax exemption. Under the new guidelines, the exemption has been set at $15 million for an individual and $30 million for a married couple. This permanent increase, which will continue to be indexed for inflation in the coming years, provides a level of certainty that has been missing for nearly a decade. For high-net-worth families, this creates a unique window of opportunity. Even though the immediate threat of a "sunset" back to lower levels has been mitigated, the fundamental principle of estate planning remains the same: it is often better to gift assets today while their value is known, rather than waiting for them to appreciate inside your taxable estate.
In 2026, families should primarily focus on the strategic use of irrevocable trusts. While revocable living trusts are useful for avoiding the costly and public probate process, they do not reduce assets in your taxable estate. To protect wealth from future tax changes or creditors, many are turning to Spousal Lifetime Access Trusts (SLATs). This setup allows one spouse to transfer assets to a trust for the benefit of the other, effectively securing the current high exemption amount and excluding future appreciation from taxes. It also enables the family to access income or principal through the beneficiary spouse. With high exemption limits this year, these tools are now common for those with growing businesses or substantial real estate, not just the ultra-wealthy.
Beyond the numbers, 2026 is a year to prioritize the "living" side of estate planning. This means ensuring that your powers of attorney and healthcare directives are not only signed but also relevant to your current life. A power of attorney drafted ten years ago may name individuals who are no longer capable of serving or who no longer share your financial philosophy. Likewise, healthcare proxies and living wills must be clear and accessible. In a digital age, a paper copy in a safe deposit box is often insufficient. Ensuring your medical agents have digital access to your directives and that your HIPAA authorizations are up to date can prevent a crisis from becoming a legal nightmare.
We must also look at the changing nature of assets. Many modern estates are now heavily weighted toward digital assets, including cryptocurrency, intellectual property, and even high-value social media accounts. Planning for 2026 requires a "digital executor" or specific instructions within your trust regarding who has the authority to access and manage these accounts. Without a clear legal path, many of these assets can be lost forever behind encrypted passwords, leaving heirs with no way to claim what is rightfully theirs.
Charitable giving also remains a cornerstone of effective planning in 2026. The tax environment continues to favor those who integrate philanthropy into their long-term vision. Donor-Advised Funds have become particularly popular because they allow for an immediate tax deduction while giving the family time to decide which charities to support over many years. By donating appreciated securities rather than cash, you can avoid capital gains taxes while simultaneously reducing the size of your taxable estate. This "double dip" benefit is one of the most efficient ways to fulfill a legacy of giving while protecting your family's core financial interests.
For those with business interests, 2026 is a crucial year to review succession plans. A business is often a family’s most valuable and least liquid asset. Without a clear plan for ownership transfer and the payment of associated taxes, a successful company could face liquidation after a founder’s death. Taking advantage of the current high exemption to gift minority interests in a family business can be especially beneficial, as these gifts frequently qualify for valuation discounts due to lack of marketability or control. This strategy allows you to transfer more value out of your estate than the gift's face value might indicate.
Ultimately, the significance of "portability" between spouses cannot be ignored. Despite the new $15 million individual exemption, a surviving spouse must file a federal estate tax return on time to "claim" any unused exemption from the deceased partner. This straightforward administrative task can nearly double the amount passed on to children. By 2026, as families operate in an environment where the combined exemption reaches $30 million, neglecting to ensure portability could cost millions — a mistake that can be easily prevented.
Estate planning in 2026 is less about reacting to a crisis and more about embracing an unprecedented period of opportunity. The high exemption limits provide a safety net, but they do not replace the need for a thoughtful, comprehensive strategy. By combining robust trust structures with updated medical directives and clear digital asset planning, you can ensure that your legacy is defined by your intentions rather than by administrative hurdles or tax liabilities.
Disclaimer: This blog post is intended for informational purposes only and does not constitute legal advice. It is essential to consult with an experienced attorney for personalized guidance relevant to your specific circumstances.
