In a significant legislative shift, the Tax Cuts and Jobs Act of 2017 doubled the exemption amounts for estate, gift, and generation-skipping transfer taxes (collectively known as “Death Taxes”). As of 2024, the federal exemptions stand at $13.61 million per individual and $27.22 million per married couple. This means that estates falling below these thresholds are currently shielded from federal Death Taxes-an unprecedented opportunity that will only last through December 31, 2025….By: Rosenberg Martin Greenberg LLP
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