Worried about estate and gift taxes? Dr. Friday shares the good news: the lifetime exemption is now larger and permanent starting in 2026.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
The higher lifetime estate and gift extension is now permanent and bigger. I don’t know about a lot of you, but we were concerned when they started saying that it was going to be like a million or two million dollars, which I know sounds like a lot, but when you’re talking a lifetime, it isn’t as much.
But it’s going to be $15 million starting in 2026, up from about $13.9 million that we had in 2025. And if you exceed that—if you’re fortunate enough to have an estate larger than that—then you will be paying a 40% gift tax on anything above that. But for most of us, let’s be honest, lifetime or not, we’ll have no worries.
If you got questions, all you have to do is call us 615-367-0819.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.