SUMMER 2025 NEWSLETTER
Estate and Gift Tax Update
Significant updates to the federal estate tax laws have been enacted. The federal estate and gift tax exemption amount, which is currently $13,990,000 per person ($27,980,000 per married couple), will not sunset at the end of 2025. On January 1, 2026, it will increase to $15,000,000 per person ($30,000,000 per married couple) and will be adjusted annually for inflation.
The annual gift tax exclusion amount is currently $19,000 per person ($38,000 per married couple). The annual exclusion amount is periodically adjusted for inflation.
Passwords
For most of us, gone are the days of going to the bank or even writing a check. As a result, managing an individual’s digital accounts upon death can be complicated for family and loved ones.
We recommend securely documenting your credentials and passwords for online accounts and apps. A properly appointed fiduciary can use the information at your death to identify accounts, subscriptions, and outstanding bills.
If you have an Apple account, you can designate someone to have access to your account after your death. The data may include photos, messages, notes, files, apps, and device backups. Certain information, like data stored in your Keychain, can’t be accessed by your Legacy Contact. For instructions on how to add an Apple Legacy Contact to your Apple account and to learn more about Apple Legacy Contact visit How to add a Legacy Contact for your Apple Account - Apple Support.
Google offers a similar feature that allows you to designate a Trusted Contact to access your data or be notified if your account has been inactive for a set period of time. The tool can be used to designate a third party to receive certain account data in the event of your death or account inactivity. For instructions on how to add a Trusted Contact to your Google account and to learn more about Google Inactive Account Manager visit About Inactive Account Manager - Google Account Help.
Donor Advised Funds
If you are charitably inclined, one option to explore is a donor advised fund. A donor advised fund is a charitable giving vehicle created by an individual, family, or organization and can be used to make gifts during life and at death.
Contributions to a donor advised fund provide immediate tax benefits. Once a contribution is made, it is invested for tax-free growth. You, as the donor, retain advisory privileges with respect to the distribution of funds and the investment of assets in the account, allowing you to make grants over time to the nonprofit organizations that you choose.
If you are interested in incorporating a donor advised fund into your estate plan, please contact our office.
Firm News
Miranda K. Hawkins received the Five Star Investment Professional Award for 2025 and was featured in The Denver Foundation Catalyst newsletter. Miranda was also recognized by the Colorado Supreme Court for her contribution to the Colorado Well-Being Recognition Program for Legal Employers.
Anne M. Zogg was awarded the Douglas Elbert Bar Association’s Frederick “Ric” Morgan Outstanding Volunteer Award for 2025 for her pro bono contributions to the community. Anne has also been named Chair of the Denver Access to Justice Committee.
Miranda K. Hawkins was named by her peers as one of the 2025 Best Lawyers in America and as a 2025 Colorado Super Lawyer for her work in trusts and estates. Also, Miranda serves as the 2025 Chair of The Denver Foundation Professional Advisors Council.
Hawkins Gordon was proud to sponsor the Metro Volunteer Lawyers Spring Soiree. Metro Volunteer Lawyers is the pro bono program of the Denver Bar Association and provides free legal services to those who could not otherwise afford legal services for their civil legal issues.
Visit our new website for frequently asked questions regarding estate planning, probate, and taxes, as well as previous newsletters!
