Tag Archives: estate tax planning

Ultra-high-net-worth individuals with estates valued above the $13.61 million estate-tax lifetime-exclusion amount in 2024 (or $27.22 million for married couples filing joint tax returns) have several opportunities to reduce their estate tax liabilities at death while preserving wealth for future generations while they are alive. Give Multiple Gifts During Life. Making annual exclusion gifts enables […]

Effective Jan. 1, 2024, the federal estate tax exemption increased to $13,610,000, or $27,220,000 for married couples filing joint tax returns. This means that individual taxpayers can transfer up to $13.61 million in assets to their heirs (or up to $27.22 million for married couples filing jointly) during life or at death without incurring federal gift […]

Thanks to expanded federal estate tax exemptions introduced in 2018, very few families have been subject to federal estate, gift and generation-skipping transfer (GST) tax. However, because the higher exemption is a temporary provision of the tax law and subject to change under the influence of shifting political powers, families must prepare their estate plans […]