2018 Gift and Estate Tax Exemption; 2018 Annual Gift Exclusion

Fairly big news came out this week. 

Assuming tax reform doesn't change things, the 2018 gift and estate tax exemption will increase to $5.6 million per individual (up from $5.49 million for 2017).  Effectively, then, a married couple's exemption will increase to $11.2 million. 

Also noteworthy, the annual gift exclusion will increase to $15,000 in 2018, after remaining at $14,000 from 2013 through 2017.