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Tax News

Major Changes to Estate and Inheritance Tax Laws

 

Effective January 1, 2016, Tennessee's inheritance tax has been abolished. In addition, the federal estate tax exemption for 2017 is now $5.49 million and is potentially "portable" between spouses. The annual gift exclusion remains at $14,000 for 2017.  Clients who have not had their estate plans reviewed recently may want to schedule a conference to determine if their estate plan is affected by these changes.

 

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© Kizer & Gammeltoft, P.C. 2016

110 Cogdill Road  Knoxville, TN 37922

(865) 692-8777 | Disclaimer

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© Kizer & Gammeltoft, P.C. 2017

110 Cogdill Road  Knoxville, TN 37922

(865) 692-8777 | Disclaimer