Estate planning

Wolbachc — Tue, 10 Mar 2026 06:01:48 GMT

Once retired do you have any tips so my heirs will pay minimal taxes upon death?

Re: Estate planning

VincentL — Wed, 28 Sep 2022 16:39:27 GMT

You are able to gift the annual exclusion to each donee. In other words, you can give each of your children $16,000 in 2022 and beyond tax free.

The IRS allows a lifetime tax exemption on gifts and estates, up to a certain limit, which is adjusted yearly to keep pace with inflation. For 2022, an individual's combined lifetime exemption from federal gift or estate taxes is $12.06 million. If married, the joint exemption is $24.12 million.

Your annual excluded gifts do not reduce the lifetime exclusion for gifts under $16,000.

topic Estate planning in Tax law changes

Estate planning

Re: Estate planning