The 2018 Estate Tax Rules, and Why They May Not Matter
The IRS recently announced the 2018 estate tax exemption and annual gift exclusion amounts, and both are rising. This means that high-net-worth individuals can shelter more of their assets from the 40% estate tax this year. However, there's a realistic possibility that the 2018 estate tax rules could end up being irrelevant.
The estate tax is meant to levy a tax on wealthy Americans who transfer money and property to their heirs. For this reason, there is a certain value of assets per person that can be excluded from the estate tax calculation each year.
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Source: Fool.com
