West Michigan Financial Services
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529 Plans and Estate Planning
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Estate Tax Rates
The following chart summarizes federal estate tax rates and exemptions for 2023 and 2024. |
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2023 |
2024 |
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| Annual gift exclusion | $17,000 |
$18,000 |
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Gift and estate tax applicable
exclusion amount | $12,920,000 + DSUEA1 | $13,610,000 + DSUEA1 |
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| Generation-skipping transfer
(GST) tax exemption | $12,920,0002 | $13,610,0002 |
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1Basic exclusion amount plus deceased spousal unused exclusion amount (DSUEA) 2The GST tax exemption is not portable |
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Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to
investment risk, including the possible loss of value.
NOT FDIC-INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY THE BANK. MAY GO DOWN IN VALUE.
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| Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2024. |
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