If you've been waiting for the right time to create or update your estate plan, 2025 is the year to act. With the recent passage of the One Big Beautiful Bill Act (OBBBA), estate planning has entered a new era—one that rewards proactive planning and penalizes delay.

As of July 2025, individuals now have a $15 million exemption for both federal estate and gift taxes. For married couples, that means $30 million in tax-free transfers, either during life or at death. This change makes it possible for families to pass on substantial assets without federal tax liability—but only if they act now.

What Makes This Moment Unique?

Most financial professionals agree: this level of exemption won't last forever. Congress often revises tax laws in response to political winds and budget pressures. If you wait until a new administration reverses this benefit, you may lose your chance to preserve your legacy tax-free.

Additionally, Texas does not impose a state estate tax, which makes your planning options even more powerful if you're located in Bell County or Temple.

What Should Be Included in Your Plan?

At minimum, your estate plan should include:

• A revocable living trust or will
• Durable Power of Attorney (for financial decisions)
• Medical Power of Attorney and HIPAA authorization
• Advance directive (a living will)
• A thorough review of beneficiary designations on retirement accounts and life insurance

If you own a business, have blended family dynamics, or want to protect vulnerable beneficiaries, your estate plan may also include:

• Irrevocable trusts
• Asset protection planning
• Special needs trusts
• Charitable giving vehicles

Why Procrastination Is Dangerous

Without an estate plan:

• Your assets may go through costly probate.
• The court may decide who raises your children.
• Your loved ones may face unnecessary taxes and delays.

For high-net-worth families, this is a golden opportunity to use gifting strategies, family limited partnerships, or GRATs to freeze estate values and transfer appreciating assets while the exemption is at its peak.

Call to Action

At Barina Law Group, we believe that estate planning is a gift to your family. You're not just protecting wealth—you're creating clarity, peace of mind, and legal protection for those you love.

📍If you live in Temple, Killeen, or anywhere in Central Texas, let's talk about your goals and build a plan that reflects your values and assets.

👉 Call (254) 699-3755 or visit www.bobbybarinalaw.com to schedule your personal planning session today.