The current Federal estate, gift and generation-skipping transfer (GST) tax exemption amounts are projected to increase in 2015. The projected adjustment, compared to 2012, 2013 and 2014, is as follows:
2012 |
2013 |
2014 |
2015 |
|
Unified estate, |
$5,120,000 |
$5,250,000 |
$5,340,000 |
$5,430,000 |
The increased exemptions allow individuals to shelter greater
amounts from Federal estate, gift and GST taxes, now imposed at
40%. For example, in 2015, a married couple would be able to
transfer a total of $10,860,000 free of these Federal taxes, either
during lifetime or at death. Even a married couple who has
already utilized the full 2012 exemptions will have an additional
$620,000 of exemption ($310,000 each) available for planning in
2015.
Annual gift tax exclusions are available in addition to the exemptions, so that each year an individual may make gifts of $14,000 (or $28,000 for gifts by a married couple) to an unlimited number of recipients - - without using up any of the individual's lifetime exemption. The annual exclusion amount is expected to remain at $14,000 for 2015.
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