Gift and Estate Tax

This article explains why estate tax portability does not make bypass trusts obsolete and discusses their benefits for asset protection, remarriage, appreciation, grandchildren, and administrative planning.

The article explains that the federal estate and gift tax exclusion will increase to $15 million per person in 2026 and outlines planning considerations for wealthy families.

Explains that a U.S. recipient generally does not pay tax merely for receiving a foreign gift or inheritance, but may have IRS reporting obligations and foreign-account reporting duties.

The article explains how capital gains tax applies to gifted and inherited property and discusses proposed changes to the step-up in basis.

The article explains how the Tax Cuts and Jobs Act doubled the federal estate tax exclusion while setting the exemption to revert to pre-law levels on January 1, 2026.

This historical article explains how the federal estate tax exemption and taxable-estate deductions affected potential tax liability, while noting that some states imposed separate estate taxes.

This historical article reports the 2016 federal estate and gift tax limits, including the $5.45 million individual exemption, portability for married couples, and the $14,000 annual gift tax exclusion.

This historical article explains how the American Taxpayer Relief Act of 2012 established a 40 percent federal estate tax rate, a roughly $5.25 million 2013 exemption, portability between spouses, and no automatic sunset provision.