For 2016, the basic estate tax exclusion amount will be $5,450,000, the IRS has announced.

The annual gift tax exclusion remains at $14,000 per person per year for 2016.

These figures are contained in Rev. Proc. 2015-53 at pages 19-20.


Do You Need Help with
Estate Administration?

Call

412-531-7123

Contact Us Online

Related Posts

What is Power of Attorney (and Why Have One)?

What is Power of Attorney (and Why Have One)?

If you need some clarity on what exactly a "durable power of attorney" is, and why it's important to have one, watch the short video below. Here I give you my thoughts on what can happen if you don't have power of attorney, and why it makes sense to have one prepared...

Who has capacity to make a will?

Who has capacity to make a will?

Fundamental to the validity of any last will and testament is that the testator (person whose will it is, and who is signing the documents) had capacity at the time of execution. By statute, a testator in Pennsylvania must be “of sound mind” to make a will. (20 Pa....

Share This