2026 estate exemption, GRATs and basis tradeoffs sharpen wealth-transfer planning

The 2026 federal basic exclusion is $15 million and the annual exclusion is $19,000, but portability, filing requirements, state taxes and basis consequences make headline thresholds only a starting point. GRATs may transfer concentrated-stock appreciation with limited exemption use, while bypass-trust structures can preserve estate-tax shelter but sacrifice a potential second basis adjustment. Recent introductory coverage reinforces probate privacy, trust administration and estate-liquidity needs without adding sophisticated Nevada-specific guidance.