Q: Did 2023 bring any noteworthy updates to the estate tax laws that I should be aware of?

by | Jan 25, 2023 | Annual and Lifetime Gift Tax Exclusions, Estate Planning, Q&A |

A: Yes! The Federal Lifetime Exclusion Amount (for deaths that occur in 2023) is now set at $12.92 million per person (or $25.84 million per married couple). This means that a married couple can effectively leave $25.84 million of inheritance to their chosen beneficiaries without having to pay any federal estate tax.

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