Don't Forget to Get Your Annual Estate Plan Checkup.
August 17, 2021
|
An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction amounts are adjusted for inflation, they can change from year to year, impacting your plan:
Lifetime Gift and estate tax exemption
2014 - $5.34 million | 2015: $5.43 million
Generation-skipping transfer tax exemption
2014 - $5.34 million | 2015: $5.43 million
Annual gift tax exclusion
2014 - $14,000 | 2015 - $14,000
Marital deduction for gifts to noncitizen spouse
2014 - $145,000 | 2015 - $147,000