The One Big Beautiful Bill: What It Means for Your Family's Financial Future

Spoiler: It's not as beautiful as they want you to think.

On July 4, 2025, Congress passed the so-called One Big Beautiful Bill (“OBBB”) — a massive, 900-page piece of tax and benefits legislation that’s been praised by some as a win for working families. But if you look closer, things get complicated fast.

This new law touches nearly every American household, with sweeping changes to tax deductions, healthcare, food assistance, and estate planning. While the headlines focused on political theatrics and soundbites, the reality is this:

If you don’t understand how this law affects your financial future, you could be left unprotected when it matters most.

This is especially true for families who already face systemic barriers to healthcare, generational wealth, and legal protection — families like yours and mine.

What's Changing Right Now

A few of the changes sound promising on paper. But most are temporary, tied to arbitrary deadlines, and require families to navigate confusing eligibility rules and bureaucratic hurdles. Let’s break it down:

Family Benefits

• Child Tax Credit increases to $2,200 per child (starting 2026)

• “Trump Accounts” created for kids born 2025–2028

  • $1,000 initial government deposit

  • Families can contribute up to $5,000 annually for future education or home purchases

• Parent PLUS Loan Cap limited to $65,000 per student

  • Could reshape how families fund college

Worker-Specific Deductions

• Tip earners can deduct up to $25,000 of tip income (through 2028)

• Overtime workers can deduct $12,500–$25,000, depending on filing status

These benefits phase out at higher incomes and vanish after 2028. No guarantees they’ll return.

Temporary Expense Relief

• Deduction of up to $10,000 in car loan interest — but only for U.S.-made vehicles

• State and local tax deduction raised to $40,000 — expires in 5 years and phases out for higher earners

• Seniors get a $6,000 deduction (if they meet income requirements) — but this too ends after 2028

If this all feels a little piecemeal... that’s because it is. These benefits don’t address long-term security. They’re short-term perks with built-in expiration dates. And families who are already under pressure — financially, emotionally, or otherwise — are the ones most likely to miss out.

Healthcare + Benefits: Who Gets Left Behind?

This law makes major shifts to how healthcare and public assistance are delivered — and not in ways that make life easier. The most vulnerable families stand to lose the most.

Medicaid (Starting Late 2026):

• Adults ages 19–64 must work, volunteer, or attend school 80+ hours/month to qualify

• Caregivers of kids under 14 are exempt — but not protected from the red tape

• New documentation rules could disqualify people even if they meet the requirements

These aren’t just rules — they’re roadblocks, and they’ll disproportionately impact disabled folks, queer parents, single moms, and low-income caregivers.

SNAP (Food Assistance):

• Work requirements now extend up to age 64

• States must help fund benefits — and some may pull out of the program entirely

Health Insurance Marketplace:

• Tax credits under the ACA will expire, potentially raising premiums by an average of 75%

• New documentation requirements could block access for people in transition — due to job loss, illness, caregiving, or just life happening

All of this creates more instability. And if you’re the one making sure your family is cared for — legally, financially, and physically — this law just made your job harder.

Estate Planning Impacts: It’s Not Just About Taxes

One of the few “permanent” changes?

The federal estate tax exemption is now set at $15 million per person ($30 million for couples). Sounds great — unless you realize that only about 0.25% of families would have faced estate tax to begin with.

If you’re not among the top 1%, this change doesn’t help you — and it certainly doesn’t protect your family from probate, court fights, or lost assets.

The real risk? The temporary benefits that phase out in 2028, leaving families unprepared and unsupported. Without a plan, sudden shifts in tax law or healthcare access could mean major disruption.

You Need a Plan That Can Adapt — Because This System Won’t

If you’ve worked with a traditional estate planning attorney, you probably walked away with a stack of documents and a feeling that you’d “checked the box.”

But a piece of paper doesn’t make your family secure — especially when laws change overnight.

That’s why I use a Life & Legacy Planning process. It’s not just about legal forms. It’s about:

✅ Immediate Access + Guidance

• Clear instructions for your loved ones

• A plan for what happens if you’re incapacitated

• Ongoing support from someone who knows your family and your wishes

✅ Financial Reality Planning

• Strategies to manage rising healthcare costs

• Contingency planning for when temporary tax benefits disappear

• Tools to help your family maintain their lifestyle through change

✅ Built-In Adaptability

• Regular reviews to reflect new laws + life changes

• Updated asset inventories + beneficiary designations

• A relationship with someone who knows your values — and how to protect them

Bottom Line: Temporary Benefits. Permanent Consequences.

The One Big Beautiful Bill may offer short-term tax relief for some, but it also creates long-term uncertainty for many.

This isn’t just about taxes.
It’s about access. Security. Dignity.
And whether your family is prepared for the next wave of policy changes.

We don’t get to decide what Congress does.
But we can decide how we plan for it.

Let’s build a plan that actually works — no matter what D.C. does next.
Book your free 15-minute discovery call today, and we’ll talk about what this bill means for your family’s future.