Hammond Law Group PC Urges Estate Plan Updates After $15M OBBBA Exemption
Hammond Law Group PC emphasizes that individuals and families in Colorado need to pivot their estate planning strategies after changes due to the OBBBA.
CO Estate Planning Law Firm Helps Colorado Families Navigate the New $15 Million OBBBA Exemption by Shifting Focus to Essential Basis Step-Up Strategies
COLORADO SPRINGS, CO, UNITED STATES, July 15, 2026 /EINPresswire.com/ -- Hammond Law Group PC, a firm dedicated to serving Colorado families with a relationship-centered, holistic approach to Estate Planning, is urging local residents and high-net-worth individuals to immediately review their estate plans following a major shift in federal tax law.
On January 1, 2026, the sweeping "One Big Beautiful Bill Act" (OBBBA) officially went into effect. The legislation effectively cancels the long-feared sunset provisions, permanently increasing the federal estate tax exemption to a historic $15 million per individual. While this news averts the anticipated tax cliff, it also means that estate plans designed around the older, lower exemption limits may now be fundamentally obsolete.
For years, financially established professionals, business owners, and retirees have prioritized "rushed gifting" to move assets out of their estates before the anticipated tax drop. Today, the legal landscape demands a dramatic pivot. The strategic focus must now shift toward basis step-up planning, income tax minimization, and long-term asset protection.
Without proper updates to existing trusts and legal documents, families risk missing out on massive capital gains tax savings for their heirs.
"For the last few years, families were bracing for a dramatic drop in the estate tax exemption, which led to widespread, aggressive gifting strategies," said Catherine Hammond, founder of Hammond Law Group. "With the OBBBA securing a $15 million exemption, the focus isn't just about avoiding estate taxes. It’s about preserving your true wealth and facilitating a seamless basis step-up for your heirs. Estate planning is ultimately about protecting your loved ones from complicated legal hurdles and creating the conditions for your family to thrive, and this new legislative landscape requires a fresh look to make sure your plan still serves your family's best interests."
The new law impacts Colorado families and business owners in several critical ways:
The End of Rushed Gifting: Strategies meant to rapidly decrease estate size may now unnecessarily strip individuals of appreciating assets that could otherwise benefit from a step-up in basis at death.
Income Tax Prioritization: With the $15 million threshold, the primary threat to generational wealth is often no longer the estate tax, but rather massive capital gains taxes inherited by the next generation.
Asset Protection Emphasis: Families now have the breathing room to focus on shielding their wealth from creditors, predators, and lawsuits, rather than just the IRS.
Hammond Law Group PC maintains a core mission of helping families seek to resolve problems before they happen. Each member of the Hammond Law Group team is selected not only for their skills, but for their values and proven commitment.
The passage of the OBBBA presents a timely opportunity for families to align their assets with the current law, leveraging trust-based estate planning to mitigate risks and make sure their final intentions are seamlessly honored.
To learn more about Hammond Law Group PC and how the new OBBBA limits affect your estate plan, visit www.ColoradoEstatePlan.com.
About Hammond Law Group PC
Every member of our team is selected not only for their skills, but for their values and proven commitment. We have carefully created a team with a variety of talents, all with a true passion for serving our clients both in the creation of your Estate Plan and when it matters the most, taking care of your family at your disability and after you pass away.
Whether you are attempting to resolve a complicated legal matter or have decided that it’s time to start planning for the future, our team understands where you are. We have the care and experience to guide you through the process.
The Hammond Law Group team will provide the experienced representation you need, no matter what the situation may be. Let us be your guide on the path toward preserving your family’s future.
Read the original press release on Hammond Law Group PC’s website: https://coloradoestateplan.com/hammond-law-group-pc-urges-estate-plan-updates-after-15m-obbba-exemption/
Catherine Hammond, Esq.
Hammond Law Group PC
(719) 520-1474
email us here
Visit us on social media:
LinkedIn
Instagram
Facebook
YouTube
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
