2023 Estate and Gift Tax Exemption Amounts
The annual gift tax exclusion is now $17,000 per recipient for 2023, up from $16,000 per recipient in 2022.
The estate and gift tax exemption are now $12.92 million per individual for 2023 gifts and deaths, up from $12.06 million in 2022. This increase means that with planning a married couple can shield a total of $25.84 million without having to pay any federal estate or gift tax.
NOTE: Everyone, regardless of financial status or age, can benefit from having a comprehensive estate plan to arrange medical and financial affairs and protect their heirs.
Call our office today at 480-922-1010 or email email@example.com to schedule your complimentary estate plan review. We can help ensure you have the right documents and strategies in place to achieve best outcomes for yourself and those you care about.
-Stephanie A. Bivens, Esq., CELA
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