Estate Planning Case Study

ATRA 2012 & Current Limits

Made 2010 legislation permanent, including portability.

2020 & 2021 annual exclusion $15,000.

2020 lifetime exemption $11,580,000

2021 lifetime exemption $11,700,000.

Above $1,000,000, the estate, gift, and generation skipping tax rate is 40%.

2018 changes: Instead of $5M from 2010 being indexed for inflation, it treats it as $10M indexed for inflation. Congress included a sunset provision, so that the exemption reverts back to 2017 limits, indexed for inflation, in 2026.

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