Estate/Gift Exemption and Exclusion Rise in 2018

The IRS has announced that the applicable exclusion amount (i.e., lifetime estate tax and gift tax exemption) and the GST lifetime exclusion amount have increased to $5.6 million per individual effective January 1, 2018. Also, the annual gift tax and GST tax annual gift exclusion will increase to $15,000 on January 1, 2018.