New use-it-or-lose-it estate tax exemption

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By Lindsey Paige Markus

Lindsey Paige Markus, a shareholder at Chuhak & Tecson P.C., draws on her early career in business, finance and clinically applied neuroscience to communicate with clients and develop creative solutions to fit their estate planning, wealth protection and corporate needs. Lindsey is a dynamic contributor to local news outlets, and has been recognized one of the 40 Under Forty.

Posted February 19, 2020 4:12 PM

Over the next five years we will see major changes in the estate tax climate. Under the Tax Cuts and Jobs Act, Congress doubled the amount which could be passed estate tax-free from $5 million, adjusted for inflation, to $10 million, adjusted for inflation. However, what many don’t recognize is that this adjustment is not permanent.Under the act, in 2026 the exemption will revert to the $5 million level, adjusted for inflation. And, depending on who wins the presidency and control of one or both legislative chambers, …

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