Ferchi

As a reminder, the estate tax exclusion, which is the value of an estate that earns a credit against the tax due (the "basic exclusion amount", was set to revert to $1 million per person from the 2012 level of $5.12 million, and the top estate tax rate was due to rise to 55 percent from 35 percent. With the enactment of the new law, the basic exclusion amount will permanently remain at 2012's level of $5.12 million, but will adjust higher with inflation in the future (in 2013, the exclusion amount will be $5.25 million); and the tax rate will increase to 40 percent.