The Tax Cuts and Jobs Act, signed by President Trump on December 22, 2017, included provisions that doubled the estate tax exemption. The exemption for 2019 is $11.4 million for individuals and $22.8 million for married couples. According to the Tax Policy Center, less than 4,000 estates in the U.S. will have to file an estate tax return under the new laws, and of those only 1,800 (or fewer) will end up owing any money.
If There Is No Estate Tax, Do You Still Need an Estate Plan?
Blog Posts, Estate Planning
Excerpt
The Tax Cuts and Jobs Act, signed by President Trump on December 22, 2017, included provisions that doubled the estate tax exemption. The exemption for 2019 is $11.4 million for individuals and $22.8 million for married couples. According to the Tax Policy Center, less than 4,000 estates in the U.S. will have to file an estate tax return under the new laws, and of those only 1,800 (or fewer) will end up owing any money.
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