Estate & Gift Tax Update

Now that the federal Unified Estate and Gift Tax has a level of certainty in it, here are the updated figures for 2014.

Maximum Estate and Gift Tax rate 40%
Inflation adjusted estate exclusion: $5.34 million
Annual Gift Giving Exclusion: $14,000
($28,000 per couple)


Check Portability of an unused estate exclusion to a spouse is possible
Check There is an allowed deduction to account for estate taxes paid to a state
Check Use the annual gift giving exclusion as an estate planning tool for yourself and your heirs
Estate and Gift Tax Update

So while you still can’t take it with you, at least the federal government will let your survivors take more of it with them.