Yes, as of January 1, 2015 the estate and gift tax exemption has changed. The estate and gift tax exemption and the GST tax exemption has changed from $5.34 million to $5.43 million. Now more than ever it is important to be responsible and educated with any changes or updates made to taxes, regardless of what your assets look like. We recommend that you contact your attorney to ensure that your estate planning documents achieve your tax planning goals.
Use our 2015 Estate, Gift & Generation-Skipping Tax Chart to help you navigate through your estate tax planning for the new year.