It’s Time For An Estate Tax Check-up

Earlier in the year, we wrote about how the new Tax Cuts and Jobs Act (TCJA) will affect your income tax planning. The new tax bill also impacts estate planning by increasing the federal estate tax exemption to $11.2M for individuals and $22.4M for couples.

While this high federal exemption level means that very few will need to worry about Federal estate taxes (at least until the changes sunset in 2026), many states have tied their state estate tax laws to the Federal exemptions level over the years.