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ARTICLE · 17 NOVEMBER 2017

Personal Planning Strategies - December 2017

Proskauer Rose LLP
Proskauer Rose LLP
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Proskauer Rose LLP

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It should be noted that while the estate tax exemption is portable among spouses at death, the GST tax exemption is not portable.

United StatesTax
Albert Gortz
Albert Gortz
David Pratt
David Pratt
Lindsay Rehns
Lindsay Rehns
Mitchell Gaswirth
Mitchell Gaswirth
Andrew Katzenstein
Andrew Katzenstein
Nathaniel Birdsall
Nathaniel Birdsall
Stephanie Heilborn
Stephanie Heilborn
Henry Leibowitz
Henry Leibowitz
Vanessa Maczko
Vanessa Maczko
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2018 Estate, Gift and GST Tax Update:  What This Means for Your Current Will, Revocable Trust and Estate Plan

As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent: (1) the reunification of the estate and gift tax regimes, (2) the $5 million estate, gift and generation-skipping transfer ("GST") tax exemptions, as increased for inflation (as discussed below), and (3) portability of the federal estate tax exemption between spouses at death.

Tax Exemption Inflation Increases for 2018

  • In 2018, there is a $5,600,000 federal estate tax exemption (increased from $5,490,000 in 2017) and a 40% top federal estate tax rate.
  • In 2018, there is a $5,600,000 GST tax exemption (increased from $5,490,000 in 2017) and a 40% top federal GST tax rate.

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