2016 Estate Tax Exclusion Adjustment Announced

The estate tax exclusion is the amount of money and property that can be transferred before the estate tax can be applied. If you are married to an American citizen, you can transfer unlimited assets to your spouse estate tax-free, but transfers to others could potentially be taxed. We have a $5.43 million exclusion in place for the rest of 2015. This comes about due to a series of inflation adjustments that have been added annually since a $5 million benchmark was established in 2011. Initially, this $5 million inflation adjustment was approved for 2011 and 2012, but at the end of that year, the American Taxpayer Relief Act of 2012 made this arrangement permanent. The Internal Revenue Service has recently announced the estate tax exclusion adjustment for 2016. In the past, these adjustments have been at least $90,000, but apparently, the cost of living has not gone up significantly this time around. In 2016, the exclusion will go up by $20,000 to $5.45 million. We should also point o
http://www.norcalplanners.com/2016-estate-tax-exclusion-adjustment-announced/

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