By Kathy Krohn, CPA
When people hear about today’s historically high federal estate tax exemption, it’s easy to assume estate planning is something only ultra-wealthy families need to worry about. But that’s a common misconception — and it’s one we see often at 415 Group.
A living trust is one of the most practical estate planning tools available, and its value has much less to do with estate taxes than most people think. In fact, for many families, the biggest benefits are simplicity, privacy, and peace of mind.
At its core, a living trust is designed to make life easier for the people you leave behind. Unlike a will, assets held in a properly funded living trust typically avoid probate. That means faster access to assets for your family, less court involvement, and more privacy, since probate is a public process.
For families who own real estate, vacation homes, or valuable personal property, this can significantly reduce delays and stress during an already difficult time.
One of the biggest issues we see isn’t whether someone has a trust — it’s whether the plan actually works the way they think it does.
Common gaps include beneficiary designations that don’t match the trust, jointly owned property that bypasses the plan entirely, or assets that were never formally transferred into the trust in the first place. In those cases, families may still face probate despite having done “the right thing” by setting up a trust.
At 415 Group, our role is to help clients connect the dots between estate planning, tax strategy, and their broader financial picture. We work closely with estate planning attorneys to review how trusts and wills align with tax considerations, evaluate beneficiary designations and ownership structures, anticipate how future tax law changes could impact your plan, and identify when additional planning may be needed beyond a living trust.
If you haven’t reviewed your estate plan recently — or if you’re unsure whether your trust is fully aligned with your tax and financial strategy — now is the right time to start the conversation. Our team at 415 Group can help you assess your current plan, identify potential gaps, and coordinate with your legal and financial advisors to ensure your wishes are clearly documented and effectively carried out. Reach out to your 415 Group advisor to schedule a conversation and take the next step toward peace of mind.