Planning for the 2026 Sunset of the Lifetime Gift & Estate Tax Exclusion

The Federal gift and estate exclusion amount in 2023 stands at $12.92 million per person.  A significant change is scheduled for January 1, 2026, when the gift and estate exclusion is set to be reduced by half.  The estate planning implications of this impending change are broad and much discussed in existing literature.  This Client Alert delves into the lesser-discussed implications of the upcoming change.