Kirsten Wolff

Oct 25, 2024 | mondaq.com | Kirsten Wolff

At the end of 2025, the House, Senate and the White House together will have the opportunity to renew or reset the estate and gift tax exemption (currently $13,610,000 per person) or to allow the exemption to sunset. If the exemption sunsets, it may be reduced to approximately $7,000,000 per person. How this plays out will depend on the outcome of the 2024 election.