As a follow-up to our Client Alert on November 26, 2018, the Tax Cuts and Jobs Act (the “2017 Act”), enacted December 2017, doubled the gift/estate and generation-skipping transfer (“GST”) tax exemptions from $5 million per person, indexed for inflation since 2010, to $10 million per person, indexed for inflation since 2010. This year, the exemptions are $11.4 million for an individual or $22.8 million for a married couple.
August 5, 2019
Using Increased Exemptions While They Remain Available and Other Tax Planning Considerations
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