TCP — Quick Sheet
Estate & Gift Tax Planning
Read time: ~5 minutes
One-minute revision
- OBBBA: $15M per person / $30M couple from 2026, permanent, indexed from 2027
- Gift = carryover basis; death = stepped-up basis → below-exemption estates often should hold appreciated assets
- Annual exclusion needs a present interest → Crummey powers solve this in trusts
- Unlimited: spouse (US citizen), charity, direct tuition/medical payments
- Techniques: GRAT (appreciation transfer), ILIT (removes insurance from estate), QPRT (residence)
- Portability requires a timely filed return; does not apply to the GST exemption