Tax Legislation Doubling the Federal Estate Tax Exclusion Opens Door for Important Capital Gains Tax Planning in Living Trusts for Married Couples
by Angela Kil, Esq.
An important federal tax law that took effect on January 1, 2018 that increased the estate tax exclusion from $5,490,000 in 2017 to $11,180,000 in 2018 for each taxpayer (now $11,400,000 in 2019). Under the new law, in 2019, married couples can now shelter a combined inflation adjusted $22,800,000 from estate tax using both spouse’s exclusions. However, the increase to $11,400,000 per spouse may be…Read More