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Estate Planning Update

January 2023

  • 2023 Annual Gift Tax Exclusion: increased to $17,000 per donor, per donee.
  • 2023 Gift and Estate Tax Exemption: increased to $12,920,000 per donor through 2025, see #6, an increase of $860,000.
  • Marital Deduction for Transfers to U.S. Spouse: remains unlimited.
  • 2023 Generation Skipping Tax Exclusion: increased to $12,920,000 per donor through 2025, see #6.
  • Top rate for Federal Estate, Gift and Generation Skipping Taxes: 40%.
  • National Topics: The current Gift and Estate Tax Exemption is doubled to get to the amounts set forth above and the question remains, will the doubling (a) be extended beyond

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