1. The federal estate tax exclusion increases .09 million to $5.43 million.
2. That same figure will be used for the lifetime gift exclusion and generation-skipping transfer tax.
3. The annual gift tax exclusion stays at $14,000.
Number three affects a large percentage of the population. Number one and two are for the wealthy, but the information is still important for estate tax planning purposes.
For more information regarding estate tax figures, contact Richard Abraham.