Retirees with older estate plans face a new reality. The One Big Beautiful Bill Act (OBBBA) quietly changed the direction of estate planning, and outdated strategies are now creating retirement tax traps. These mistakes can drain wealth, spark family conflicts, and unravel the legacy you worked decades to build. Watch this to sidestep the devastating mistakes hidden in yesterday’s plans.
00:00 Intro
00:47 What Changed with One Big Beautiful Bill Act
01:45 Preserve & Create Basis Step-Up
03:28 Re-Audit Old Trusts Blocking Step-Ups
04:32 Shift the Tax Hit Without Losing Control
05:56 Charitable Giving that Actually Cuts Taxes
07:06 Protection First
08:09 Business & Capital-Gain Tools
09:07 IRAs Don't Step Up
09:38 Flexibility = Your Tax Shield
10:15 Pitfalls to Avoid
10:45 Your Action Checklist
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Vitaly Novok is a fiduciary financial planner with Lestna Retirement. He helps people protect their wealth and maximize the lasting impact of their legacy by creating personalized financial and estate planning strategies.
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Disclaimer: This video and its description are provided for informational and educational purposes only. Just to be super clear - no attorney-client, tax-advisor, investment-advisor, or fiduciary relationship is created by watching this content or reaching out to me afterward.
I am not an attorney, so nothing I share should be construed as legal advice. The ideas I discuss are generic in nature and do not constitute personalized investment, tax, or legal recommendations. You'll always want to consult with a qualified attorney, CPA, and financial advisor who can evaluate how these concepts might apply to your specific situation.
Keep in mind that past performance is not indicative of future results, and all investing involves risk, including the possible loss of principal. This content is not an offer to buy or sell any security and shouldn't be relied upon to make investment decisions.
The information I share comes from sources I believe are reliable, but I can't guarantee accuracy. Things change quickly in our field, so what I'm discussing today may become outdated or could be affected by future developments or changes in laws.
#EstatePlanning #LegacyPlanning
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By: Vitaly Novok
Title: New Tax Law Just Turned Your Estate Plan Into a Retirement Tax Trap
Sourced From: www.youtube.com/watch?v=DX9KFUgM27k
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