June 2025 TRFS Update

HELLO JUNE...HERE'S OUR LATEST UPDATES...

NEW! Scenic Trail Retreat features 8± acres and showcases a custom home with a split floor plan, soaring vaulted ceilings, and polished concrete floors. At its heart is a well-appointed kitchen with wood cabinetry, granite countertops, a center island, and an eat-in breakfast bar—perfect for cooking, gathering, and entertaining. Large windows frame panoramic hilltop views, and a back deck offers the ideal spot to relax and enjoy colorful Hill Country sunsets.

NEW! Wedding Oak Winery and Wedding Oak Estate Vineyards and Homestead are more than properties—it's an extraordinary opportunity to own a cornerstone of Texas wine culture. Rooted in tradition and inspired by the iconic 400-year-old Wedding Oak Tree, this turnkey winery and vineyard is a celebration of community, connection, and the rich heritage of Texas.

REDUCED! Twin Mountain Ranch showcases spectacular-unobstructed 360° views that stretch for miles across the rolling hills of Comfort and the surrounding Hill Country! The 5± acre headquarters is fully high-fenced and features a custom-built home with an inviting and functional layout, three bedrooms, and three-and-a-half bathrooms, blending comfort and elegance. Whether you’re on the porch, walking the land, or simply gazing out from the home's large windows, the scenery is absolutely breathtaking. The diverse terrain provides both dramatic elevation changes and gently rolling pastures, making this property feel expansive and secluded at the same time. Sunrises and sunsets here are truly unforgettable, with golden light cascading across the hills, offering a constantly changing and awe-inspiring backdrop.

CHECK OUT THE LATEST TEXAS DROUGHT CONDITIONS!

Rain is a good thing...we're praying it continues! Texas has seen recent rainfall which has helped the state avoid serious drought concerns. The state is experiencing a lower percentage of exceptional drought conditions at 14.03%. Extreme drought conditions have also decreased to 22.41% statewide. Stay informed about current water conditions.

RANCH NEWS ARTICLES!

You can see the latest ranch news articles under “Resources” then go down to the “Ranch Articles” tab. The latest article is about a case that illustrates the difficulty landowners face in proving the existence of an easement by necessity.. Read more. These articles are also featured in our bi-weekly email newsletter.

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We genuinely value your participation in the TRFS community. We eagerly look forward to sharing upcoming property updates and opportunities with you!

Sincerely,

2025 Federal Estate and Gift Tax Limits

IRS announced the 2025 estate and gift tax exemption amount

Recently, the Internal Revenue Service (“IRS”) announced the 2025 estate and gift tax exemption amounts.  Generally speaking, these amounts change slightly each year, and are an important consideration in a person’s estate planning process.

Background

As we have discussed numerous times on this blog and our Ag Law in the Field Podcast, Congress sets an amount of assets that a person is allowed to give during their lifetime or at death without incurring estate or gift tax liability. This is known as the lifetime exemption.  The IRS adjusts the amount each year for inflation. Persons whose estate value is over the lifetime exemption will incur federal estate tax liability of 40% on the overage.

Additionally, federal tax law allows each taxpayer to gift a certain amount to another individual without incurring federal gift tax liability.  This amount is critical for anyone utilizing gifting as part of their estate planning strategy.

[For more information on these taxes, read prior blog posts here and here and listen to prior podcast episode here.]

2025 Limits

For 2025, the lifetime exemption amount will be $13.99 million, an increase of $380,000 from the 2024 exemption.  For a couple, that equates to $27.98 million.  The federal gift tax limit will increase from $18,000 to $19,000.

What happens in 2026?

At least as the law currently stands, a big change will be coming in 2026.  The lifetime exemption is set to drastically decrease as it will sunset back to prior exemptions in 2026.  The estimated lifetime exemption for 2026 will be $7 million/person.  Congress should certainly act to change this by extending the current exemptions or passing a new law, but for now, the decrease is set to go into effect on January 1, 2026.

What does this mean for me?

Estate and gift taxes are an issue of which everyone should be aware.  Everyone should have an idea of the fair market value of their estate.  This is a critical first step in determining if someone could be facing an estate tax issue.  Anyone who is even close to the lifetime exemption amount should be carefully planning their estate to seek to avoid this tax liability.

Additionally, people should take care when making gifts, whether monetary or of assets, and understand what gift tax implications those gifts may have.  It should also be noted that gifts made over the annual limit will likely result in a decrease in the lifetime exemption a person has in the future.

The best advice is to work with an attorney and an accountant to ensure there are no surprising tax issues that arise.