The 2019 estate tax exemption amount has increased to $11.4 million, an increase of approximately $200,000 from last year’s exemption amount. A married couple could potentially exclude $22.8 million from estate tax for the year 2019.

Keep in mind that 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.

The annual gift exclusion amount remains the same at $15,000. Clients should contact our office to see if they need to 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