Newsletter

 DEATH TAXES
  David R. Bane, Attorney, Member of the PA and NJ Bar

Federal Estate Tax   
                                                                                                                                          As of 2026, there is no federal estate tax unless the value of an individual estate exceeds Fifteen Million Dollars. For married citizen taxpayers who file a Federal Estate Tax Return, the surviving spouse can claim the unused credit of the predeceased spouse so that most families can now bequeath up to Thirty Million Dollars to their surviving heirs with no Federal Estate Tax. The federal estate and gift taxes are combined so if a taxpayer makes 5 million in lifetime gifts, then the taxpayer can bequeath an additional 10 million at death. 
There is no tax to surviving citizen spouses regardless of the size of the estate.     
In 2025, the federal  annual exclusion for reporting gifts is $ 19,000.00. 

Pennsylvania Inheritance Tax              New Jersey Inheritance Tax
Spouse – no tax                                       Class A- Spouse and Children- no tax
Children – 4.5% of entire estate               Class C and D - 11-16% of entire estate 
Siblings – 12% of entire estate
All others- 15% of entire estate


 

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