Annual Gift Tax and Estate Tax Exemptions for 2026
Takeaways The federal estate tax exemption for 2026 will increase to $15 million per individual, with married couples exempt up to $30 million. The annual gift tax exclusion will remain at $19,000 per individual for 2026, with a lifetime gift and estate tax exemption...
Estate Planning: Funding Your Revocable Living Trust
Takeaways A revocable living trust is a valuable estate planning tool that helps manage finances during life and incapacity and provides financial security for loved ones after death – primarily by avoiding the legal process known as probate. “Funding” a trust means...
One Common Estate Tax Error That Could Cost You
Takeaways Many families make the costly mistake of not filing an estate tax return when the first spouse dies, even when no taxes are due. If they fail to file IRS Form 706, the surviving spouse loses the valuable benefit of estate tax portability, which allows them...