Transferring wealth & wisdom from generation to generation
Edward E. Wollman, JD, LL.M
4. PLAN EARLY, REVIEW OFTEN Tax laws evolve, and even “permanent” provisions can be rewritten. However, with the proper planning, you can “freeze” or “lock-in” these benefits. Families who plan early and review their options regularly often come out ahead. Before year-end, consider: Have your trust provisions been updated for new basis rules? Are portability elections (allowing spouses to combine exemptions) filed with your CPA? Have your retirement accounts been reviewed for efficiency under the SECURE Act? Should major charitable gifts be completed in 2025 rather than 2026, before new deduction limitations begin? In Part Three of this series, we will discuss advanced techniques for families seeking to strengthen their plans, including charitable strategies, trust flexibility, and ways to prepare for future changes calmly and strategically. A Final Word The OBBB did not end estate planning. In fact, it has opened up many new opportunities for a thoughtful and balanced approach. Planning today is less about avoiding tax and more about creating clarity, stability, and confidence for your family. At Wollman Gehrke & Associates, we help families bring order to complexity. Our role is to ensure your plan remains current, coordinated, and designed for lasting protection.
Each advisor—your CPA, financial planner, and insurance professional—sees part of the picture. Your estate planning attorney is the one who brings these perspectives together into a cohesive plan. That coordination ensures every recommendation works in harmony rather than in isolation. Where do families begin? Start by reviewing how assets are titled, confirming beneficiary designations, and ensuring your trusts reflect current law. In Part Two, we will explore these strategies in detail, including charitable planning opportunities before new limitations take effect.
3. WHY FLORIDA FAMILIES HAVE AN ADVANTAGE
Florida continues to offer one of the most favorable tax environments for preserving wealth. The combination of the OBBB and Florida’s protective statutes creates a unique opportunity for long-term security. Homestead protections safeguard primary residences (up to one-half acre in cities, 160 acres outside) from most creditors with unlimited value protection. To qualify, the homestead must be owned by you personally or in a revocable trust, not by an LLC or corporation. Dynasty trusts can now extend for up to 360 years (and possibly 1,000 years under recent proposals), allowing families to preserve assets for multiple generations. Combined with Florida’s lack of state income tax on trusts, this offers multi-generational protection not common in other states. Strong asset protection statutes offer security for retirees, business owners, and professionals who face liability exposure. For many Naples families, these tools are already in place but even small adjustments can make a big impact. Is your Florida plan still serving its purpose? Florida’s advantages only work if the details of your plan are properly aligned. Consider any legal, tax, and financial strategies that you have in place, and make sure that each of your advisors are aware. Even if you don’t see a connection, keeping your advisors on the same page can help you take full advantage of what Florida law provides.
Next Step: Contact our office to arrange a consultation and confirm that your plan reflects both your intentions and the opportunities available under the new law.
Visit www.probate-florida.com to read more about this subject and other estate planning matters.
Ed Wollman is a Florida Bar Board Certified Attorney specializing in wills, trusts, and estates with over 35 years of experience practicing in the state of Florida.
Where Today’s Plans Become Tomorrow’s Legacy 2235 VENETIAN CT #5, NAPLES, FL 34109 (239) 435.1533 — (239) 435.1433 FAX
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