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 how the federal estate tax is calculated, why few estates owe it under the 2026 exemption, and why estate planning remains important.

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.