Welcome to EWM INSIGHTS, where we celebrate HUMAN CAPITAL!

In a comprehensive discussion on tax planning in the context of 2025, Paul Ellis, Jim Bergeron, and Graham Foltz engage in a thoughtful exploration of the impending changes to estate and gift taxes, underscoring the necessity for families of substantial wealth to reassess their financial strategies.

The conversation frames the upcoming reduction of the estate tax exemption—a transition from nearly $14 million to around $7 million—as a pivotal moment that requires immediate action from those with assets valued between $10 million and $25 million. The speakers articulate the multifaceted nature of wealth, advocating for a holistic approach to estate planning that encompasses both financial assets and the family’s core values.

As they navigate the intricacies of the legislative environment, the speakers highlight the critical intersection of federal and state tax regulations, illustrating how families can be affected by both layers of taxation. They encourage listeners to engage in proactive estate planning discussions, utilizing current exemptions to mitigate future tax liabilities while fostering family harmony. The dialogue emphasizes the importance of a thorough evaluation of one’s wealth and the potential consequences that arise from neglecting estate planning documents that may be outdated or misaligned with current financial realities.

The podcast ultimately serves as a call to action for families to respond decisively to changing tax landscapes, urging them to consult with estate planning professionals and take advantage of existing exemptions while they remain available. The speakers conclude with an empowering message: families must invest in their legacies today to ensure that their wealth and values endure for future generations.

Additional Notes and resources have been attached below.

Takeaways:

• The current estate tax exemption is approximately $13.99 million, but it is scheduled to decrease significantly in 2026.
• Tax planning should consider both federal and state-level transfer taxes, as they can significantly impact wealth transfer strategies.
• Families with wealth between $10 and $25 million should actively review their lifetime gift exemptions to mitigate future estate tax liability.
• It is crucial for families to review and update estate planning documents every five years or after significant life events.
• Utilizing trust structures for asset transfer can provide both control and protection against creditors for beneficiaries.
• The legislative landscape surrounding tax laws is fluid, and strategic planning must account for potential changes in the tax code.
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• The Entertainers Checklist, Estate Guidelines and Considerations - EWM - The Entertainers Checklist, Estate Guidelines and Considerations A Value Based Resource Journal compliments of Ellis Wealth Management, LLC.
• 10 Family Wealth Compass Questions - Journal.pdf - 10 Family Wealth Compass Questions - Journal
• Nuveen Family Wealth Education Curriculum.pdf

• Ellis Wealth Management
• Nuveen

We hope our conversations will help you acquire more knowledge, become even more curious about the gifts that are in and all around us, while supporting you to reach new heights as we grow together.

You can subscribe and listen to EWM INSIGHTS on Spotify, Apple Podcasts, Amazon Music, or the Ellis Wealth Management Homepage: https://elliswealthmanagement.net/podcasts/

Above all, through EWM INSIGHTS we want to encourage you to:

INVEST IN WHAT YOU LOVE!®