Published in Tax Notes
In an article published on 9/15 in Tax Notes, VF Law Attorney Bianca Schmitt analyzes Oregon’s low and fixed estate tax exemption of $1 million in light of the updates to federal estate and gift tax exemptions that will rise to $15 million and are set to take effect in 2026. She provides guidance on how to navigate Oregon’s estate tax framework, credit shelter trust strategies to preserve a spouse’s Oregon exemptions, lifetime gifting options, and more.
“Oregon families with estates valued above $1 million — particularly those with real estate, retirement savings, or life insurance — face exposure to state-level estate taxation, regardless of what happens at the federal level,” Schmitt notes. “But with careful planning, much of that burden can be mitigated or eliminated.”
Inflation, a rise in Oregon’s property values, and now Oregon’s static exemption threshold is placing a burden on middle-income families. The state also lacks portability for exemptions, which presents the need for married couples to plan early and utilize both of their tax exemptions effectively before they lose them.
“With federal changes coming in 2026 and Oregon’s framework holding steady, the months ahead represent a critical planning window,” Schmitt emphasizes. “Taxpayers and their advisers should use this time to act decisively, not only to minimize taxes but to ensure that their legacy is preserved on their terms.”
Read the story in full, click here (subscriber-based).