Report · 2026 · 26 pages
HNW Estate Planning in Florida
Estate, gift, and wealth-transfer planning for Florida-domiciled families with $5M+ net worth — what changed in 2026 and what to do about it.
Illustrative model Figures and benchmarks are reference values modelled to show typical impact — not aggregated firm-engagement data. Verify with a CPA before acting.
Florida has long been an estate-planning destination for high-net-worth families: no state income tax, no state estate tax, and homestead protection that rivals any other jurisdiction. But the federal estate exemption is scheduled to sunset at the end of 2025, the OBBB Act partially restored it for 2026, and the planning landscape has shifted in ways that meaningfully reward action now.
- 01 Federal estate exemption for 2026 is $13.99M per individual / $27.98M per couple — partial OBBB extension.
- 02 The 2025 sunset risk did NOT fully materialize, but exemptions are still scheduled to step down in 2028 absent further action.
- 03 Florida-domiciled clients save state estate tax versus NY ($16M+ delta on a $20M estate) and CA (no state estate tax but 13.3% income tax during life).
- 04 Grantor trusts (IDGTs, GRATs, SLATs) remain the highest-leverage tools — particularly for closely-held business stakes.
01 · The exemption landscape
For 2026, the federal estate and gift tax exemption is $13.99M per individual / $27.98M per couple. The 2025 cliff was partially extended via the OBBB Act, but the exemption is scheduled to step down to roughly $7M in 2028 absent further congressional action.
This creates a planning window. Families with $10M+ in assets should be using the exemption now — either through gifts, GRATs, or SLATs — to lock in current basis treatment. After 2028, the math gets dramatically worse.
-
2026 federal exemption
$13.99M
per individual
-
2026 federal couple
$27.98M
with portability
-
FL state estate tax
$0
none
-
NY equiv on $20M estate
$1.6M
state-only
02 · Domicile matters
Florida is one of the most estate-friendly US jurisdictions. New York, by contrast, imposes its own estate tax with a "cliff" — pay full tax if you cross 105% of the exemption. For Florida-domiciled clients with secondary homes in high-tax states, careful documentation of domicile (FL homestead, FL drivers license, time-of-presence logs) is critical to avoid losing the FL tax advantages.
We help clients structure domicile changes (NY → FL is the most common) with a 12-month staged plan that survives state audit.
03 · Grantor trust strategies
Intentionally Defective Grantor Trusts (IDGTs), Grantor Retained Annuity Trusts (GRATs), and Spousal Lifetime Access Trusts (SLATs) remain the highest-leverage tools for HNW Florida families — particularly when used in combination with closely-held business interests where valuation discounts apply.
For business owners with operating LLCs/S-Corps, the combination of (a) gifting non-voting interests at a discount, (b) using a SLAT to retain spousal access, and (c) leveraging the 2026 exemption window can move $20M+ out of the estate at minimal gift-tax cost.