Federal Estate Tax Exemption Is Set to Expire – Are You Prepared?
A window of opportunity opened in 2018 when the Tax Cuts and Jobs Act (TCJA) doubled the lifetime gift, estate and generation-skipping tax exemptions to $11.18 million from $5.6 million. Adjusting for inflation, the current exemption this year is $11.58 million — the highest it has ever been.
While the change provides a major opportunity to pass on a substantial part of your wealth tax-free, there is a catch: It is a limited-time offer. This increase in the estate tax exemption is set to sunset at the
