The first is the federal estate tax exemption. Since 2018, estates are only taxed once they exceed $11.7 million for individuals; $23.4 million for married couples, at a top rate of 40% . (The value of a primary home is exempted up to $250,000 for individuals and $500,000 for married couples.)Why is estate tax portability important?
Estate tax portability can be a useful tool for couples who are creating estate plans and have a lot of assets between them, and is something to be mindful of when you're estate planning. Here's what you need to know about this important component of estate planning.