Estate and Gift Taxes

Here are some planning considerations for estate and gift taxes:

Gift up to a total of $15,000 gift tax free to each of your loved ones in 2018 using the annual gift tax exclusion

If you are making gifts with your spouse, you can gift up to $30,000 per recipient by combining your exclusions.

Consider utilizing your lifetime gift and estate tax exemption

Your lifetime gift and estate tax exemption is $11.18 million per person in 2018 under the new tax law. The lifetime gift and estate tax exemption is scheduled to revert back to half of the current exemption amount (adjusted for inflation) in 2025.

Does your net worth exceeds the lifetime gift and estate tax exemption?

If your net worth exceeds the lifetime gift and estate tax exemption, we would be happy to discuss more advanced tax planning strategies applicable to your specific situation.

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Year-end Planning 2018

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