Thursday, March 2, 2023

What Will Happen When the Gift and Estate Tax Exemption Gets Cut in Half

estate planning attorney Ann Arbor

Most Americans have estates that fall under the federal estate and gift tax exemption. However, the exemption is set to be cut in half in 2026. This exemption increased to $13 million (actually $12.92 million) in 2023. In 2026, this exemption resets to $6.8 million (adjusted for inflation between now and then) unless Congress acts in the interim. 

What happens if you make a taxable gift before 2026 but die after 2026 when the exemption has been cut in half? Learn more here.


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If you’re interested in learning more about estate planning, please contact an estate planning attorney in Ann Arbor at 734-665-4441.

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