Explore how the One Big Beautiful Bill may affect taxes, deductions, and credits now and in the years ahead.

Inheritances come in all shapes and sizes, whether an heirloom left to you by a loved one or a life-changing financial windfall. Regardless of the form it takes, figuring out what to do next can be a crucial question. This is especially true with inherited IRAs, which can be very well funded, but also come with very specific and complicated rules you must follow to unlock the assets within them.

Over the next few decades, an enormous amount of wealth is expected to pass from older to younger generations. This has been dubbed the “Great Wealth Transfer,” and one estimate suggests that $124 trillion will change hands by 2048. It’s an eye-popping figure, to be sure, but it also highlights the reality that many families are, or soon will be, navigating how to pass on their wealth. A top-of-mind question: Is the next generation ready to take on the responsibility?

If you’re lucky, summer has been a chance to unwind, catch up on beach reads, and spend quality time with family and friends before the familiar rhythm of fall resumes. But what happens when there’s no routine to return to? For many, that’s the dream of retirement: endless relaxation, free from the constraints of work. But the reality can be more complicated.

Congress recently passed a sweeping tax and spending policy bill with lots of long-term implications. Much of the news coverage has focused on its difficult legislative path and the potential political, economic, and social consequences. But like many people, you’re probably wondering what this new legislation means for you and your family. The full answer depends on the makeup of your family and the unique details of your finances. We will spend time with each of our clients individually to plot out specific courses of action. In the meantime, we want to highlight a few immediate implications worth considering: