The One, Big, Beautiful Bill, recently passed by the U.S. House, would provide wealthy families some certainty regarding their estates if it’s enacted. The current unified federal gift and estate tax exemption amount, adjusted annually for inflation, is set to expire after 2025. This year, it allows individuals to shelter $13.99 million from gift and estate taxes. After 2025, the amount is scheduled to revert to $5 million. Under the bill, beginning in 2026, the exemption amount would be permanently increased to $15 million, adjusted annually for inflation. The Senate is now considering the bill. It’s uncertain how it will address the gift and estate tax exemption.
Our Blog 