1What Happened
The federal estate tax exemption rose to $15 million per individual (or $30 million for married couples using portability) effective 2026. However, estate planning attorneys are flagging that future legislation could reduce the exemption back toward $6-7 million per person. A Michigan-specific development: the state updated standards under the Uniform Power of Attorney Act (UPOAA), and pre-2024 Powers of Attorney may no longer be 'user-friendly' for modern financial institutions even if technically still valid.
2The Detroit Angle
The $15 million exemption means most Metro Detroit retirees won't owe federal estate tax — but that doesn't mean their estate plan is current or effective. The Michigan UPOAA update is a practical, actionable issue: if your Power of Attorney was drafted before 2024, your bank may push back on it when a family member needs to step in during a health emergency.
3Janine's Take
Michigan adopted new Uniform Power of Attorney Act (UPOAA) standards, and estate planning attorneys across Metro Detroit are flagging this: if your Power of Attorney was signed before 2024, it may still be technically valid — but it may not be accepted smoothly by your bank or brokerage when your family needs to use it. If you can't remember the last time you reviewed your estate documents, that's worth a conversation.
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