Estate & Gift Tax Exemption (Unified Credit)
$15 million per person in 2026, shared between lifetime gifts and the estate.
What is Estate & Gift Tax Exemption (Unified Credit)?
The unified credit shelters a combined total of lifetime taxable gifts and estate value - $15,000,000 per person in 2026. Amounts above it are taxed at up to 40%. The unlimited marital deduction lets spouses who are US citizens transfer any amount to each other free of tax.
Estate & Gift Tax Exemption (Unified Credit): a worked example
An individual who dies in 2026 with a $17M estate and no prior taxable gifts has $2M exposed to estate tax.
More terms in Clients, Strategy & Tax
Sole Proprietorship
A business owned by one person with no legal separation from the owner.
General Partnership
Co-owners share management and unlimited liability; income passes through.
Limited Liability Company (LLC)
Limited liability for owners with pass-through taxation by default.
C Corporation
A separate taxpayer - profits taxed at the corporate level, then again as dividends.
S Corporation
A corporation that passes income through to shareholders, avoiding double tax.
Trust & Estate Accounts
Accounts run by a fiduciary - a trustee or an executor - under a governing document.
Foundations & Charities
Tax-exempt organizations investing for a mission, often in perpetuity.
Client Profile & Data Gathering
The financial and nonfinancial facts every recommendation must rest on.