Every year brings change, but 2026 feels different.

Between new tax provisions under the One Big Beautiful Bill Act (OBBBA), evolving investment opportunities, and a shifting economic landscape, the financial decisions you make in the near-term can influence your financial success for decades and even generations.

We believe that thoughtful planning isn’t about reacting to headlines – it’s about understanding how policy, markets, and personal circumstances interact and influence your financial goals.

Here are five realities shaping the way individuals, families, and business owners should approach their finances in 2026.

Tax Policy Requires Action, Not Assumption

OBBBA has locked in several prior income-tax provisions while adjusting others, meaning many familiar rules still apply, but with important nuances. For instance,

• The federal estate and gift tax exemption was made permanent at $15 million per individual.
• The standard deduction for married couples filing jointly increased to $31,500, and there are additional deductions for those over 65, subject to phase-outs.
• State and Local Tax (SALT) cap increased to $40,000 and will increase 1% annually until 2029 before reverting to $10,000.

These aren’t just numbers. They determine when it might make sense to accelerate income, convert to Roth accounts, or adjust charitable giving strategies. Our in-house tax specialist notes:

“Tax law only creates opportunity when it is paired with intentional planning. The shift is not in knowing the numbers, it is in knowing when those numbers should change your behavior.”

For business owners, this is especially critical. The interaction between pass-through deductions, bonus depreciation rules, and personal income thresholds can easily shift a decision from advantageous to costly. Now is the time to run scenario analyses and coordinate strategies across personal and business finances.

Estate and Legacy Planning Provide Flexibility

Shifting market conditions, evolving tax landscapes, and increasing portfolio complexity make proactive wealth management more critical than ever. With interest rates, asset valuations, and investment strategies continuing to evolve, a modern estate plan goes beyond wills and trusts. It integrates tax efficiency, liquidity management, and risk mitigation across multiple accounts and asset classes.

By reviewing and adjusting plans now, you can protect your wealth against unexpected market or life events, make inheritance plans, and ensure your long-term financial goals remain achievable. In 2026, estate planning will be a dynamic tool for managing risk, enhancing returns, and maintaining control over your financial future.

Prioritize Investment Strategy and Asset Allocation

Asset allocations naturally shift over time, especially when spread across multiple accounts (retirement plans, taxable accounts, HSAs, trusts, spousal accounts, and even private investments) with some managed actively and others left on autopilot.

These layers, plus varying sector exposures and changing withdrawal needs, make it easy for risk levels to drift without you noticing. That’s why a regular asset allocation review is essential: it helps confirm that each account and your overall portfolio still align with your goals and risk tolerance and allows for timely adjustments if things have moved off course. Without this ongoing check-in, your portfolio can quietly change in ways that may undermine its ability to meet your long-term objectives.

Retirement Planning Is Now a Dynamic Process

Retirement is no longer a single moment in time. Many pre-retirees envision phased transitions, partial work, or even entrepreneurial ventures. That reality demands coordination of income sources, tax planning, and asset sequencing.

Key considerations for 2026 include:

• The order of withdrawals from taxable, tax-deferred, and Roth accounts to optimize tax outcomes.
• Re-evaluating income acceleration plans to take advantage of temporary legislative benefits.
• Integration of Social Security timing with portfolio drawdowns and potential healthcare expenses.
• For business owners nearing exit, aligning sale proceeds with retirement goals and legacy planning.

Business Owners Must Integrate Personal and Corporate Strategies

For business-owning families, personal wealth and enterprise value are inseparable. OBBBA provisions affecting qualified business income (QBI) deductions, depreciation, and succession planning make strategic timing essential. Owners preparing for transition - whether sale, partnership transfer, or family succession - need to align business valuations with estate, tax, and investment plans.

Practical steps include testing liquidity for unexpected needs, modeling tax impact across multiple scenarios, and ensuring that investment strategies for sale proceeds support both lifestyle objectives and long-term legacy goals.

A business owner recently shared:

“For years, we focused only on building the company, without a clear retirement plan. Aligning our business and personal planning finally gave us clarity on when and how we could step away.”

Start the New Year with Purpose

The financial landscape in 2026 is nuanced. Families who partner with an expert to coordinate tax, estate, retirement, and investment strategies will find flexibility, resilience, and opportunity amidst a winding road. The key is integration by ensuring each element of your financial life works together rather than in isolation.

We encourage a thorough review early in the year, and we’re here to help with it. Together, we can identify opportunities, address potential risks, and ensure your plan reflects not only the numbers but also your goals, values, and vision for the future.

Please consult with an attorney or a tax or financial advisor regarding your specific legal, tax, estate planning, or financial situation. The information in this article is not intended as legal or tax advice.