Tuesday, January 28, 2014

Quick Overview of 2014 Federal Estate and Gift Tax Amounts

The federal estate tax exemption amount is $5,000,000 and is adjusted annually for inflation. This year the exemption amount increases to $5.34 million. This means that a married couple can protect up to $10.68 million. The estate tax rate is 40%.

The annual exclusion from gift taxes will remain at $14,000 for 2014.

19 comments:

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probate attorney Des Moines IA said...

Hi Mr. Admin, Do you have a full review of this federal estate and gift Tax amounts?

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Studying Law said...

Great post! Been reading a lot about tax law. Thanks for the info here!

Estate Law said...

Great post! Been reading a lot about estate taxes recently. Thanks for laying out this info here!

NellyPerry said...

Brilliant piece of information.

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Margaret Grose said...

Thanks for sharing this overview regarding gift tax amount. As Henderson probate attorney, we should be updated regarding this matter.

Brad Hooper said...

I had no idea that the estate tax went up every year. IT is crazy to thing that it is rising over five million dollars this year. How would this affect someones estate planning?

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Jak Manson said...

When it comes to estate planning, you should be getting help from an estate lawyer. That way you can know for sure that you are doing things correctly and things go the way that you want them to. It is your estate and by law you have the say in what goes where and who gets what as well.
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Jason Strong said...

I've been trying to find some insights on what I want to do with my life. I've been thinking about going into the law field, but I don't know what to do. I like the idea of becoming an estates lawyer though, and I can't wait to learn more.


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Jim Stout said...

It is good to learn a little more about estate intricacies like this. You really have to know what you are doing when it comes to handling estates. The paperwork alone can be a real nightmare.

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Paul Bear said...

I wonder what the rational for $5 million was. An estate lawyer has to keep abreast of every whim of legislature these days. At least they are trying to keep up with inflation.

Paul | doriangoldstein.com

Trevor Smith said...

This is some really great info that will help me out so much in the future. I have been thinking about starting my estate and will planning. I have two kids now, and it just hit me that I really need to start on this. http://www.ramsdenlaw.com.au/our-services/wills-and-estate-planning/

Jerry Boggs said...

This very useful information. I am in the process of establishing my estate plans. I own a large home, but its value is under the $5,000,000 limit. Since the gift limit is $14,000, I will have to look into alternative methods for passing my money down.

http://www.flaccuslaw.com/estate-services-trust-law-seattle/probate-law-litigation-seattle-washington/

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Pavlos Lombardi said...

I can defiantly see the positives of planing out your estate. I honestly should start thinking about that, because my kids are starting to get really old. I mean, it really wouldn't do any harm to have something like this planned.
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Mike Lintro said...

I can't believe the tax rate is so high. But that is good that the amount has increased quite a bit due to inflation. As a parent, I want my kids to have everything once I bite the dust. A need to talk to a good attorney to help me get everything planned. http://www.severlegal.com/trust.html