New Estate and Gift Tax Exemption Levels for Maryland

The IRS recently announced an increase in federal estate and gift tax exemptions for 2025. While this change will mainly impact high-net-worth individuals, this may be a good time for you to revisit and reconsider your strategies for transferring wealth moving forward.

The federal estate tax is a tax imposed on any transfer of wealth after a person passes away. The federal gift tax applies when a person gives away assets during their lifetime. Both taxes are subject to an exemption limit. The federal estate tax limit increased from $13.61 million to $13.99 million in 2025, while the federal gift tax limit has increased from $18,000 to $19,000.

Be aware that these new exemption levels are set to expire in 2026 unless Congress takes action to extend them. If no action is taken, the estate exemption amount is likely to return to $5.6 million per person next year.

For a free, confidential conversation to discuss estate planning, contact Maryland estate attorney Stephen J. Reichert at 410-299-4959 or  sreichert@reichertlegal.com. Stephen looks forward to assisting you with your Maryland estate planning needs.

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