It’s Official – 2016 Estate and Gift Tax Exemption Increased!

Estate Planning Woodland HillsIt’s official — for 2016, the estate and gift tax exemption is $5.45 million per individual, up from $5.43 million in 2015.

That means an individual can leave $5.45 million to heirs and pay no federal estate or gift tax. A married couple will be able to shield $10.9 million from federal estate and gift taxes.

The annual gift exclusion remains the same at $14,000.

For more information about estate planning, please contact our Estate Planning Attorney in Woodland Hills today: (818) 501-5800

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