Insights
Day Pitney remains committed to providing quality legal counsel, while protecting our clients and employees, and transforming our communities into more just, equal and equitable spaces. For more information, please visit our COVID-19 Resource Center | Racial Justice and Equity Task Force.
Each year, certain federal estate, gift and generation-skipping transfer (GST) tax figures are subject to inflation adjustments. For 2017, the annual exclusion amount for gifts remains at $14,000. The federal estate, gift and GST tax exemption amount for estates of decedents dying in 2017 and gifts made in 2017 is increased to $5.49 million. The annual exclusion amount for gifts made to a noncitizen spouse in 2017 is increased to $149,000.