Headlines, Deadlines, and Gossip: Wealth planning news you can use

Beyond investment discussions, client conversations usually fall into one of three categories: headlines, deadlines, and gossip. Successful advisors are prepared to discuss recent developments of interest to their investors.

In this quarterly article series, we highlight recent headlines, timely deadlines, and relevant gossip to help you stay abreast of what’s new and trending in the wealth management/wealth transfer space.

Headlines

The first quarter of 2026 brought several important tax developments that may influence planning decisions for individuals and families. Reports early in the year highlighted concerns that IRS service levels could face pressure during filing season, potentially creating delays for taxpayers seeking refunds or assistance. At the same time, a series of updates tied to recent legislation—including the One Big Beautiful Bill Act (OBBBA)—introduced new deductions, revised filing forms, and significant inflation‑indexed adjustments to more than 60 tax provisions, reshaping brackets, credits, and deductions for the year ahead.

With so many moving pieces affecting the 2026 filing environment, clients may benefit from reviewing how these changes could influence their personal tax picture.

Wealth‑transfer headlines were equally prominent this quarter, underscoring what analysts describe as one of the largest intergenerational shifts of assets in U.S. history. An estimated $124 trillion¹ is expected to transition between generations, prompting many states and federal policymakers to revisit estate and inheritance tax laws.

Research also suggests that older women may inherit the majority of wealth passed to surviving spouses—approximately $40 trillion of the projected $54 trillion²—highlighting demographic shifts that may influence long‑term financial strategies for many families.

Additionally, updates such as Iowa’s simplification of inheritance rules illustrate how state‑level changes may affect extended families and beneficiaries navigating complex wealth‑transfer decisions. These trends reinforce the importance of coordinating tax‑efficient strategies as assets move across generations.

Meanwhile, legislative updates to federal estate and gift tax rules continue to shape planning opportunities. Although Congress extended higher exemption amounts through the OBBBA, industry experts caution that these levels, while historically generous, still require proactive review to ensure strategies remain aligned with family goals and potential future law changes.

Analysts also note that, without thoughtful adjustments to gifting plans, trusts, or broader estate structures, quieter shifts in the tax code could reduce the net amount heirs receive. Given the evolving landscape, clients may find value in revisiting their estate plans, particularly as wealth‑transfer needs become more complex and multigenerational planning takes center stage.

Deadlines

April 15, 2026 — Major federal income tax deadline

• Individual income tax returns for tax year 2025 are due on April 15, 2026.
• This is also the deadline for taxpayers on a calendar tax year to file or request an automatic extension.
• If April 15 falls on a weekend or holiday, the deadline shifts, but in 2026, April 15 falls on a Wednesday and is the IRS‑confirmed deadline.
• Gifts made in 2025 must be reported on Form 709 filed by April 15, 2026.
• Filing a Form 4868 extension for your individual income tax return also automatically extends the due date for Form 709.
• Alternatively, you may request an extension specifically for the gift tax return using Form 8892.

May 2026 — A little breather

There are no major federal individual income‑tax or gift‑tax filing deadlines in May based on available IRS tax‑calendar sources.

June 15, 2026 — Second estimated tax payment due

• Individuals with income not subject to withholding (e.g., investment income, business income, RSU/bonus withholding gaps, etc.) must make their second quarterly estimated tax payment for the 2026 tax year by June 15, 2026.

• Estimated‑tax schedules typically fall around April 15, June 15, September 15, and January 15.

Gossip

Passings

January: Scott Adams, Catherine O’Hara
February: The Rev. Jesse Jackson, James Van Der Beek, Robert Duvall, Eric Dane, Robert Caradine
March: “Country” Joe McDonald, James Tolkan, Mary Beth Hurt

The first quarter of 2026 brought several noteworthy legal disputes in the wealth‑transfer space, each highlighting the complexity of multigenerational planning, business‑family governance, and cross‑border estate issues. Below is a brief roundup of three significant cases that illustrate the evolving landscape facing families and fiduciaries.

In January, the long‑running Evenstad family trust dispute once again made headlines when a Minnesota court revisited the Serene Warren lawsuit, a case involving alleged mismanagement within a closely held family business. The court reversed a prior $40 million award, signaling that earlier determinations around trust administration and governance required further scrutiny. This matter underscores how quickly trust‑related decisions can shift and the importance of maintaining clear documentation and well‑structured governance in family‑owned enterprises.

February brought major news out of South Korea as the Seoul Western District Court dismissed claims filed in an inheritance lawsuit involving members of the prominent LG Group. The plaintiffs sought restoration of inheritance rights connected to the late Chairman Koo Bon‑moo, but the court rejected the petition. The ruling highlights the ongoing complexities faced by global business families, particularly when traditional inheritance expectations intersect with multinational corporate structures and evolving succession laws.

Around the same time, South Africa’s Surtie family appeared close to resolving a high‑value inheritance dispute that has stretched on for years. The case centers on a multibillion‑rand estate linked to the late Abdul Razak Tayob Surtie, and reports suggest that the parties may be approaching settlement after prolonged litigation. This development illustrates how large, multi‑jurisdictional estates can fuel extended legal battles—and why proactive, coordinated estate planning is essential for reducing conflict and preserving family wealth.

If you have questions on any of the information here or other wealth planning topics, feel free to reach out to our Wealth Strategist Group or your Janus Henderson representative.

¹ “Cerulli Anticipates $124 Trillion in Wealth Will Transfer Through 2048.” Cerulli Associates, December 2024.
² “Older women set to inherit most of $54 trillion in ‘great wealth transfer’ to widowed spouses.” CNBC, March 14, 2026.