Annual exclusion gifting is a common estate planning strategy to reduce the size of one’s estate in their lifetime. The annual exclusion limit for 2015 has been set at $14,000. Also in 2015, donors have a lifetime exemption of $5.43 million. If married, each spouse has a $5.43 million exemption for a total combined exemption of $10.86 million.
For those who still have an estate valued over the lifetime exemption amount, annual exclusion gifting may be a good idea. Continue Reading →