Estate Planning Update December 2017 - Inflation Adjustments

Each year, certain estate, gift and GST tax figures are subject to inflation adjustments. For 2018, the annual exclusion amount for gifts increases to $15,000. As mentioned above, the current version of the tax bill will double the estate, gift and GST exemption. The annual exclusion amount for gifts made to a noncitizen spouse in 2018 is increased to $152,000.