Estate Planning Key Numbers

Estate Planning Key Numbers

January 26, 2022
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Here are some key numbers associated with estate planning, as well as the federal gift tax and estate tax rate schedules for 2021 and 2022.

 

 

2021

2022

Annual gift tax exclusion:

$15,000

$16,000

Gift tax and estate tax applicable exclusion amount:

$11,700,0001 + DSUEA2

$12,060,0001 + DSUEA2

Noncitizen spouse annual gift tax exclusion:

$159,000

$164,000

Generation-skipping transfer (GST) tax exemption:

$11,700,0003

$12,060,0003

GST tax rate

40%

40%

Special use valuation limit (qualified real property in decedent's gross estate):

$1,190,000

$1,230,000

 

1 The basic exclusion amount.

2 Deceased spousal unused exclusion amount (for 2011 and later years)

3 The GST tax exemption is not portable.

2021 and 2022 Gift Tax and Estate Tax Rate Schedule

 

Taxable Gift/Estate

Tentative Tax Equals

Plus

Of Amount Over

0 - $10,000

$0

18%

$0

$10,000 - $20,000

$1,800

20%

$10,000

$20,000 - $40,000

$3,800

22%

$20,000

$40,000 - $60,000

$8,200

24%

$40,000

$60,000 - $80,000

$13,000

26%

$60,000

$80,000 - $100,000

$18,200

28%

$80,000

$100,000 - $150,000

$23,800

30%

$100,000

$150,000 - $250,000

$38,800

32%

$150,000

$250,000 - $500,000

$70,800

34%

$250,000

$500,000 - $750,000

$155,800

37%

$500,000

$750,000 - $1,000,000

$248,300

39%

$750,000

$1,000,000 +

$345,800

40%

$1,000,000

Credit shelter amount: $11,700,000 in 2021,

$12,060,000 in 2022

Unified credit amount: $4,625,800 in 2021,

$4,769,800 in 2022

 

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal professional.

LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.

This article was prepared by Broadridge.

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