Federal and state estate and gift tax thresholds are changing in 2026, making now an important time to confirm that your estate and wealth transfer plan remains effective and aligned with your goals.
The following thresholds apply for the 2026 tax year:
• Federal Estate and Gift Tax Exemption: $15M per individual ($30M for married couples)
• New York Estate Tax Exclusion: $7,350,000 (basic exclusion amount)
• Federal Annual Gift Tax Exclusion: $19,000 per recipient (unchanged from 2025; $38,000 for married couples)
Practical Preparation Steps to Take Today
With guidance from tax and legal advisors, the following actions can help keep your estate and wealth transfer plan current and effective:
• Take a comprehensive inventory of your assets, including real estate, business interests, investments, and review your wills, trusts, and related legal documents.
• Discuss trust structuring and wealth transfer options with an advisor, such as SLATs, ILITs, and Family Limited Partnership (FLP) structures.
• Review opportunities to use the federal annual gift tax exclusion, which can help reduce the size of a taxable estate over time.
For guidance tailored to your circumstances, please contact Lisa Rispoli, Partner and Leader of Grassi’s Trust & Estates and Private Client Services practice.
