By Stephanie Bezner, Attorney
In December, Congress passed significant tax legislation. The federal estate tax exemption was increased to $10,000,000 per person, adjusted for inflation. For 2018, the federal estate tax exemption is now $11,200,000. This means estate taxes will impact less than 0.5% of the people in the United States! As a result, some people are thinking estate planning is not necessary because their net worth is so much lower.