Mariner wealth advisors breaks down the changes made to estate and gift tax by the tcja.
Feb. 15, 2018 Article

Estate and Gift Tax Changes Under the Tax Cuts and Jobs Act


Currently, individual taxpayers are subject to a tax on the transfer of wealth during life (gift tax) and at death (estate tax). Prior to 2018, the tax laws permitted one to transfer $5 million ($10 million if married) during life, or upon death, without it being taxed. The $5 million and $10 million lifetime exclusion amounts are indexed and subject to inflation adjustments each year. For 2017, these exemption amounts for a single and married taxpayer were $5,490,000 and $10,980,000 respectively.

The new tax law doubles the exemption amount from $5 million to $10 million (subject to indexing). For 2018, with inflation adjustments factored in, individuals are expected to have an $11.2 million exemption ($22.4 million if married). This exemption increase is temporarily in effect for 2018 through 2025. In 2026, it is scheduled to revert back to the $5 million exemption base, subject to inflation adjustments at that time.

With the passing of the Tax Cuts and Jobs Act, now is a good time to review your estate plan and your will to ensure they are still going to accomplish what you initially intend them to. With the temporary increase in lifetime giving, new planning opportunities should be explored.

Ideas to consider:

  • Qualified Personal Residence Trusts (QPRTs)
  • Grantor Retained Annuity Trusts (GRATs)
  • Asset protection trusts
  • Spousal trusts
  • Review life insurance and determine if changes are needed
  • Gifting family LLC interests

Your team of advisors at Mariner Wealth Advisors can advise on estate planning ideas, as well as facilitate those conversations with your estate planning attorney.


The information contained herein is not intended to be personal legal, investment or tax advice or a solicitation to buy or sell any security or engage in a particular investment strategy. Nothing herein should be relied upon as such. The views expressed are for commentary purposes only and do not take into account any individual personal, financial, or tax considerations. There is no guarantee that any claims made will come to pass.

Mariner, LLC dba Mariner Wealth Advisors (“MWA”), is an SEC registered investment adviser. Registration of an investment adviser does not imply a certain level of skill or training. MWA is in compliance with the current notice filing requirements imposed upon registered investment advisers by those states in which MWA maintains clients. MWA may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements. Any subsequent, direct communication by MWA with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For additional information about MWA, including fees and services, please contact MWA or refer to the Investment Adviser Public Disclosure web site. Please read the disclosure statement carefully before you invest or send money. Please read the disclosure statement carefully before you invest or send money.