2018 Increase in the Federal Estate and Gift Tax Exclusion Amount
November 7, 2017
The current federal gift and estate tax “exclusion amount” (exemption) is $5,490,000. The IRS recently announced that, effective as of January 1, 2018, this exclusion amount will be increased (inflation-adjusted) by $110,000 to $5,600,000.
This favorable change in the Federal Estate and Gift Tax law may have an impact on your estate plan. Please contact us if you would like to discuss the impact of this increase of the exclusion amount on your estate plan.