The estate planning landscape has shifted since the One Big Beautiful Bill Act made the $15 million per-person exemption permanent, but that change shouldn't signal a pause in wealth transfer planning. We continue to implement spousal lifetime access trusts (SLATs) for married couples looking to lock in today's valuations and move future appreciation out of their taxable estates—especially in high-tax states like New York and Massachusetts, where estate tax thresholds remain far lower. In one recent case, we funded a SLAT with closely held business interests supported by a qualified appraisal that reflected combined minority and marketability discounts of approximately 30%. While higher Section 7520 rates—currently 4.6%—have renewed interest in GRATs, illiquid assets often make SLATs a more practical solution by preserving spousal access to distributions. We're also seeing increased use of intrafamily loans to intentionally defective grantor trusts, where the spread between mid-term AFRs of roughly 3.8% and expected equity returns can meaningfully enhance wealth transfer. History reminds us that legislative "permanence" is rarely permanent, and families who act early gain both valuation advantages and flexibility against future policy shifts. The takeaway is simple: relief from a sunset should not breed complacency—thoughtful planning is still best done sooner rather than later. - Edward J. Bosch, Jr., LUTCF, AIF*, AIFA* Founder & Private Wealth Advisor