Estate Planning (Wills, Trusts), Probate, Real Estate and Business Law Firm with Offices in Hudson, Ohio, Fairview Park, Ohio, and Brecksville, Ohio

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2017 Estate Tax Exemption Amount – 2017 Gift Tax Exemption

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2017 Estate Tax Exemption Amount – 2017 Gift Tax Exemption

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Estate Tax Exemption and Gift Tax ExemptionThe Federal Estate tax exemption went up to 5.49 million in 2017 from 5.45 million in 2016.  That’s nearly 11 million for a married couple.  If you are one of the few American’s that is in the estate tax range, call Valente Law today to help save money by avoiding estate taxes.  Estate tax is 40% rate on every dollar above 5.49 million, but with proper estate tax planning, we can almost always help you minimize the estate tax and in a lot of cases, we can totally avoid estate tax altogether.

The 2017 Gift Tax exemption is still stuck at $14,000, where it’s been for a few years.  That’s $28,000 for a married couple.  And that amount can be gifted to any person in a calendar year without paying gift tax.

The Gift Tax exemption can be used to minimize the estate tax you might have to pay by reducing your taxable estate.  For more information on estate tax and ways to avoid it read our detailed analysis of Estate Planning with Wills and Trusts. Call Valente Law now at (330) 665-5000 to help you avoid these unfair taxes targeted against America’s most successful individuals!

 

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