2015 Exemption from Estate Tax

In 2015, the federal estate tax exemption is $5,430,000, which is an increase from the exemption amount of $5,340,00 in 2014.  In addition, the lifetime gift tax exemption and generation-skipping transfer (GST) tax exemption will also increase to $5,430,000 in 2015.  In other words, as of January 1, 2015, an individual can make a gift of $5,430,000 during life or at death without paying any federal estate or gift tax.