In 2018, each person has a lifetime gift tax exemption of $11,180,000 and a lifetime generation-skipping transfer (GST) tax exemption amount of $11,180,000. In addition to these lifetime exemption amounts, a donor may make...more
For individuals dying after December 31, 2010, Section 2010(c) of the Internal Revenue Code provides that the unused estate tax exemption of the first deceased spouse is “portable” between spouses at death. Under this law, a...more