Saturday, November 2, 2013

2014 Estate & Gift Tax Exclusion Amount Increases

The lifetime estate tax and gift tax exclusion amount (also referred to as the unified credit amount, exemption amount, and applicable exclusion amount) increases from $5.25 to $5.34 million per person, effective January 1, 2014. The annual gifting exclusion amount will remain at $14,000 per person per recipient.