Day Pitney LLP is a full-service law firm with more than 300 attorneys in Boston, Connecticut, Florida, New Jersey, New York and Washington, DC. The firm offers clients strong corporate and litigation practices, with experience on behalf of large national and international corporations as well as emerging and middle-market companies. With one of the largest individual clients practices on the East Coast, the firm also has extensive experience assisting individuals and their families, fiduciaries and tax-exempt entities plan for the future.
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Each year, certain federal estate, gift and generation-skipping
transfer (GST) tax figures are subject to inflation adjustments.
For 2017, the annual exclusion amount for gifts remains at $14,000.
The federal estate, gift and GST tax exemption amount for estates
of decedents dying in 2017 and gifts made in 2017 is increased to
$5.49 million. The annual exclusion amount for gifts made to a
noncitizen spouse in 2017 is increased to $149,000.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
