The “One Big Beautiful Bill” signed in July 2025 has brought significant tax changes, including increasing the estate tax exemption amount to $15 million per person. Despite this change, estate planning remains essential for non-tax related reasons like avoiding probate, asset protection, and planning for incapacity. It would be a mistake to assume that planning is only needed for those with assets in excess of $15 million as planning can provide tremendous benefits to those who consider themselves “just average.