Tax Trifecta Trust after H.R. 1, known as the One Big Beautiful Bill Act

H.R. 1, known as The One Big Beautiful Bill Act makes income tax planning much more important than estate tax planning for most clients. This article describes numerous opportunities and illustrates how we can benefit from three or more of the opportunities by “stacking” them in what we call the Tax Trifecta Trust.

The changes to the tax law under the bill create the following opportunities:

1. Trusts for income shifting

2. Trusts to expand the SALT deduction

3. Trusts to allow