2020 Estate and Gift Tax Update

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2020 Changes to the Federal Estate Tax

In 2020, the IRS made small changes to the estate tax (and related taxes), mainly adjusting for inflation.
Federal Estate Tax Exemption — $11.58 million.
Unless your taxable estate is worth more than $11.58 million, your estate will not owe federal estate tax if you die in 2020. This is an incremental increase from $11.4 million in 2019. Portability continues to greatly increase the power of this exemption for married couples who can now leave up to $23.16 million without paying Federal estate tax.

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