medium · Certified Financial Planner Risk Management
The Hartwells are considering a 15,000,000 gift to an irrevocable trust for their children in 2026.
What is the status of the federal basic exclusion amount used to shelter this transfer?
- The exclusion is 13,610,000 per person, making the gift partially taxable.
- The 15,000,000 exclusion only applies to transfers made to a surviving spouse.
- The exclusion for gifts is separate from the estate exclusion and is 1,000,000. In this case
- The exclusion is 15,000,000 for 2026, which locks in the shelter for the transfer.
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