Estate and Gift Tax Explained: Exclusions and What's Taxed

The federal estate and gift tax system has two key numbers every family should know. The annual gift exclusion lets you give a set amount per person each year, completely tax-free. The lifetime estate exclusion runs into the millions of dollars per individual, meaning most Americans will never owe federal estate tax. In this episode, Ryan explains both, including how gifts above the annual limit count against your lifetime exclusion rather than triggering immediate tax.Ryan also covers what happens if an estate exceeds the lifetime exclusion (a rate of up to about 40%), why the exclusion number changes with legislation, and how married couples can effectively combine their exemptions. This is education, not personal advice; estate planning involves complex legal and tax decisions, so work with an estate attorney and your CPA.Find "Your Fiscal Physical" the book on AmazonIf you have suggestions or feedback, please email us at: [email protected], as always, Stay the Course!