The IRS just announced the 2016 federal estate tax rate limits, which are $5.45 million for individuals and $10.9 million for married couples. This means that wealthy Americans will be able to leave up to $10.9 million to their heirs without being subject to federal estate tax rates, which top out at 40%. In addition, the federal gift tax exemption will remain at $14,000, meaning gifts made up to that amount will not be taxed by the federal government. Good problem to have, right?<\/p>\n
While these estate tax rates have stayed fairly consistent over the past few years, Oakland County estate tax attorneys have recently been asked by their clients how they think the 2016 Presidential election may affect the federal tax limits. By and large, the answer all depends on who gets elected to the White House, as the political parties and presidential candidates have differing views on what should (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The IRS just announced the 2016 federal estate tax rate limits, which are $5.45 million for individuals and $10.9 million for married couples. This means that wealthy Americans will be able to leave up to $10.9 million to their heirs…<\/span><\/p>\n