2026 Estate Planning: 10 Essential Strategies Every High-Net-Worth Family Should Review

9/17/2026 - By Michael Cole, JD, MSPA & Stacey Craig, CPA

Estate planning in 2026 starts with a very different federal transfer-tax landscape than many families expected just a few years ago. For 2026, the federal basic exclusion amount is $15 million per person, and portability remains available for a surviving spouse if properly elected. That higher exemption changes the analysis, but it does not eliminate the need for planning.

For high-net-worth families, the better question is no longer just “Will there be federal estate tax?” It is also:

  • How much exemption remains after prior gifts,
  • Whether portability will be preserved,
  • Whether older formula clauses still work as intended,
  • Whether state estate tax exposure remains significant,
  • Whether liquidity, valuation, charitable, digital-asset, or international issues could still create major planning problems.

Below is a practical look at the 10 most important estate planning issues to review in 2026.

1. Determine Whether the Estate Is Actually Exposed to Federal Estate Tax

For 2026, the federal basic exclusion amount is $15 million per person. For married couples, portability can effectively increase the surviving spouse’s available exclusion if the proper election is made.

That means the first step in any 2026 estate plan is to determine whether the client’s projected taxable estate plus adjusted taxable gifts is likely to exceed the available exclusion amount.

For some families, the higher exemption means federal estate tax may no longer be the primary concern. But for others, especially those with concentrated business interests, real estate, private equity, or rapidly appreciating assets, federal exposure may still be very real.

The key point is that 2026 planning should begin with a fresh calculation, not assumptions based on older exemption levels.

2. Review Prior Taxable Gifts Before Assuming Exemption Is Still Available

One of the most common planning mistakes is comparing current net worth to the 2026 exclusion amount without accounting for prior taxable gifts.

That is not enough.

The unified credit applies across both gift and estate tax. Any exemption used during life reduces what remains available at death. So a client who made substantial lifetime gifts in earlier years may have far less remaining shelter than the headline 2026 exclusion amount suggests.

For high-net-worth families, this makes historical gift review essential. A 2026 estate plan should account for prior taxable gifts, prior use of exemption, and the remaining transfer-tax cushion actually available.

In many cases, the real planning question is not the size of the estate alone, but how much exemption has already been consumed.

3. Preserve Portability by Timely Filing Form 706

For married couples, portability remains one of the most important procedural tools in estate planning.

If the first spouse dies without fully using his or her exclusion amount, the surviving spouse may be able to use the deceased spouse’s unused exclusion amount—but only if the estate tax return is timely filed and the portability election is properly made.

This is a critical point. Portability is not automatic.

Even estates that are not otherwise required to file may need to file Form 706 in order to preserve the deceased spouse’s unused exclusion amount. Failure to do so can permanently forfeit a valuable tax benefit.

For affluent married couples, portability review should be standard in 2026, especially where the first spouse’s estate may fall below the filing threshold but preserving unused exemption could matter later.

4. Revisit Formula Clauses Drafted Under Older Exemption Assumptions

Many estate plans were drafted when exemption amounts were lower, less stable, or expected to sunset. That matters because formula clauses tied to exemption amounts may now operate very differently than originally intended.

For example, a formula clause that once produced a balanced result between a surviving spouse and a bypass trust may now overfund one structure, distort family economics, or shift more wealth than intended into GST-exempt or credit-shelter arrangements.

This does not mean formula clauses are wrong. It means they should be reviewed.

For 2026, high-net-worth families should revisit:

  • Marital and bypass trust formulas,
  • GST allocation assumptions,
  • Charitable formula bequests,
  • Any dispositive provisions tied to exemption amounts.

A plan that was elegant under an older exemption regime may now produce unintended results.

5. Analyze State Estate Tax Exposure Separately From Federal Exposure

Even where federal estate tax is no longer a major concern, state estate tax may still be.

That is especially important for clients living in, owning property in, or maintaining ties to states with their own estate or inheritance tax systems. A family may be below the federal threshold and still face meaningful state-level transfer tax exposure.

For many high-net-worth families, state tax planning remains highly relevant in 2026 because state exemption amounts are often much lower than the federal amount, and state taxing jurisdiction can be asserted aggressively.

This means estate planning should not stop at the federal level. A proper 2026 review should separately evaluate:

  • State domicile
  • State situs of assets
  • State estate or inheritance tax thresholds
  • Whether planning structures still work effectively at the state level

6. Review Valuation-Sensitive Assets and Basis Consequences

Valuation remains central to estate planning, even in a higher-exemption environment.

The gross estate includes the value of all property at death, and inherited property generally receives a basis adjustment to fair market value at death, subject to applicable rules and reporting requirements. That makes valuation especially important for both transfer-tax and income-tax purposes.

This issue is particularly significant for:

  • Closely held businesses
  • Real estate
  • Concentrated securities positions
  • Private funds
  • Digital assets

For high-net-worth families, valuation review is not just about estate tax exposure. It also affects:

  • Basis reporting
  • Future gain recognition
  • Charitable planning
  • Administration strategy

Volatile or hard-to-value assets deserve special attention in 2026 because they can materially affect both tax reporting and family economics.

7. Address Digital Assets and Fiduciary Access Issues

Digital assets are now a distinct estate-planning category, not just an investment footnote. For clients holding cryptocurrency or other digital assets, planning must address more than valuation. It must also address access.

A fiduciary may know that digital assets exist and still be unable to control them if private keys, passwords, wallet information, or exchange credentials are unavailable. In some cases, loss of access can make the assets effectively unrecoverable.

That creates obvious administration and liquidity risks.

For high-net-worth families with digital holdings, 2026 planning should include:identifying digital assets, documenting how they are held, preserving access credentials securely, and ensuring fiduciaries have legal and practical authority to access them.

This is one of the clearest examples of an estate-planning issue that is both tax-sensitive and operationally critical.

8. Evaluate Estate Liquidity Before It Becomes a Crisis

A taxable estate is not the only estate that needs liquidity.

Even where deductions are available for debts, expenses, marital transfers, or charitable transfers, estates still need cash to pay obligations during administration. That can become a serious problem where wealth is concentrated in illiquid or volatile assets.

Liquidity analysis is especially important for estates holding closely held businesses, real estate, private investments, restricted assets, or digital assets with access or volatility concerns.

For high-net-worth families, 2026 planning should ask practical questions such as:

  • How will taxes and expenses be paid?
  • Will assets need to be sold quickly?
  • Could forced sales occur at unfavorable values?
  • Is there enough liquid capital to support administration?

Estate planning is not just about minimizing tax. It is also about making sure the estate can function.

9. Revisit Charitable Planning as Part of the Overall Transfer-Tax Strategy

Charitable planning remains highly relevant in 2026, even with a larger federal exclusion amount.

Property passing to qualifying charities may qualify for an unlimited estate tax charitable deduction. In addition, lifetime charitable planning may still produce meaningful income-tax benefits and support broader family objectives.

For high-net-worth families with philanthropic goals, charitable planning should still be part of the estate-planning conversation. Depending on the facts, that may involve reviewing outright charitable bequests, donor-advised funds, private foundations, charitable remainder trusts, or other philanthropic structures.

The higher exemption does not eliminate the value of charitable planning. It simply changes the context. For many families, charitable planning in 2026 is less about pure estate tax reduction and more about integrating tax efficiency with legacy goals.

10. For International Families, Review Domicile and Situs Carefully

For international families, estate planning can change dramatically depending on citizenship, residency, domicile, and asset situs.

U.S. citizens and residents are generally subject to U.S. federal estate tax on worldwide assets. By contrast, non-U.S. persons are generally subject to U.S. estate tax only on U.S.-situs assets—but often with a much smaller exemption amount.

That makes domicile and situs analysis especially important for high-net-worth international families.

In 2026, families with cross-border ties should review:

  • Whether the individual is domiciled in the United States for transfer-tax purposes
  • Whether assets are U.S.-situs property
  • Whether foreign and U.S. planning structures align
  • Whether exposure exists even where income-tax residence rules suggest a different result

For international families, this issue can be outcome-determinative.

Final Takeaway

For 2026, the higher federal exclusion amount changes estate planning but it does not make estate planning less important.

For high-net-worth families, the most important issues to review are:

  1. Whether the estate is actually exposed to federal estate tax
  2. How prior taxable gifts affect remaining exemption
  3. Whether portability will be preserved
  4. Whether older formula clauses still work
  5. Whether state estate tax remains a concern
  6. How valuation and basis issues affect planning
  7. Whether digital assets are accessible and properly integrated
  8. Whether the estate has enough liquidity
  9. How charitable planning fits into the broader strategy
  10. Whether international domicile and situs rules create special exposure

In other words, 2026 estate planning is less about reacting to a single exemption number and more about making sure the overall plan still works under current law, current asset values, and current family circumstances.

Keeping Your Estate Plan Aligned with Today's Tax Landscape

Estate planning is about more than minimizing taxes. It is about preserving your legacy, protecting your family, and ensuring your wishes are carried out with confidence. As tax laws evolve and your assets, family dynamics, and financial goals change, your estate plan should evolve with them.

At Saltmarsh, we work with high-net-worth individuals and families to navigate complex estate, gift, and wealth transfer planning strategies. Our professionals provide practical guidance on federal and state estate tax considerations, portability, charitable planning, business succession, digital assets, and long-term legacy planning—all tailored to your unique circumstances.

If you're ready to review your estate plan and ensure it continues to support your goals under today's tax laws, we would welcome the opportunity to talk. Contact Saltmarsh today to learn how we can help protect your legacy for generations to come.

About the Authors

Michael Cole, JD, MSPA

Michael is a partner with experience across tax, accounting, and advisory services. He began his career in public accounting over 15 years ago, focusing on tax consulting and compliance. His primary areas of experience include providing services related to mergers and acquisitions, 704(b) allocations, and complex transaction structuring for private equity firms and family offices.

Stacey Craig, CPA

Stacey is a partner with experience across tax compliance, planning, and consulting services. Stacey is a trusted tax advisor known for delivering clear, strategic guidance that helps clients make confident financial decisions. With more than two decades of experience in tax compliance, planning, and consulting, she brings deep expertise to partnerships, S corporations, nonprofits, high-net-worth individuals, trusts, and estates.

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