The estate tax exemption now stands at $15 million per person, indexed for inflation. For most families, estate tax planning is no longer urgent. Attorneys may be frustrated at the loss of planning work, but the real opportunity lies in shifting focus.

What to consider now:
● Trust substitution provisions: allow swapping low-basis assets for high-basis ones to maximize step-up.
● Income tax planning often trumps estate tax planning at current exemption levels.
● Families with estates under the threshold can simplify—while those above still need robust planning.

The message to clients is simple: estate planning hasn’t gone away, but the priorities have changed. Today’s focus is basis management, not just transfer taxes.

These insights are drawn from recent COCPA OB3 Individual and Estate Think Tank discussions, where members explored how today’s elevated exemption shifts the focus of estate planning. Learn more about the OB3 and what the COCPA is doing to support our members who are breaking it down and working through it.