Federal estate tax, gifting strategy, and exemption usage. See where you stand.
Federal estate tax only. Some states have separate estate or inheritance taxes with much lower thresholds: Massachusetts & Oregon ($1M), Illinois ($4M), Washington ($2.2M), Maryland ($5M), New York ($7M). The $15M federal exemption was made permanent by the One Big Beautiful Bill Act of 2025 — but Congress can change this anytime. Estates with state-tax exposure should consult an estate attorney about SLATs, GRATs, or charitable remainder trusts.
