Using Your Estate and Gift Tax Exemption Today
The Tax Cuts and Jobs Act has doubled the federal estate and gift tax exemption. The exemption is currently $11,200,000 per person, and twice that for a married couple ($22,400,000). Like most of the 2017 tax law changes applicable to individuals, this change has a built-in sunset date of December 31, 2025. We also expect that in 2025 (or possibly sooner) there will be a tremendous rush to take advantage of the law before it expires. In our view, it’s better to take advantage of the new rules now than to wait. So, what is the best way to use your exemption today? Click here to read the article by Warwick Carter.