The 2018 estate tax exemption amount has increased to $11.2 million. This is more than double the 2017 estate tax exemption amount of $5.49 million. A married couple could potentially exclude $22.4 million from estate tax for the year 2018. However, the new exemption amount will sunset at the end of year 2025. This means that absent further Congressional action, the exemption amount would revert back to $5 million level. Clients should contact our office to see if they should make changes to their Wills or Trusts as a result of the significant increase or how to take advantage of this temporary increase.
Laura M. Trujillo
Disclaimer: This blog is for information purposes only. Legal advice is provided only through a formal, written attorney/client agreement.