Estate Planning

Key indexed figures20162017
Annual gift exclusion:$14,000$14,000
Gift and estate tax applicable exclusion amount:$5,450,000 + DSUEA1$5,490,000 + DSUEA1
Noncitizen spouse annual gift exclusion:$148,000$149,000
Generation-skipping transfer (GST) tax exemption:$5,450,0002$5,490,0002
Special use valuation limit (qualified real property in decedent’s gross estate):$1,110,000$1,120,000

1 Basic exclusion amount plus deceased spousal unused exclusion amount (exclusion is portable for 2011 and later years)

2 The GST tax exemption is not portable

2016 and 2017 gift and estate tax rate schedule

Taxable EstateTentative Tax EqualsPlusOf Amount Over
0 – $10,000$018%$0
$10,000 – $20,000$1,80020%$10,000
$20,000 – $40,000$3,80022%$20,000
$40,000 – $60,000$8,20024%$40,000
$60,000 – $80,000$13,00026%$60,000
$80,000 – $100,000$18,20028%$80,000
$100,000 – $150,000$23,80030%$100,000
$150,000 – $250,000$38,80032%$150,000
$250,000 – $500,000$70,80034%$250,000
$500,000 – $750,000$155,80037%$500,000
$750,000 – $1,000,000$248,30039%$750,000
$1,000,000 +$345,80040%$1,000,000
Credit shelter amount $5,450,000 in 2016, and $5,490,000 in 2017Unified credit amount $2,125,800 in 2016, and $2,141,800 in 2017

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Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2017.