The Federal estate tax exemption has been increased for inflation since 2010 at $5,000,000. This occurred because President Obama was such a terrible negotiator with the Republicans during “Fiscal Cliff” in late December 2012.
The exemption is now $5,450,000 for decedents dying in 2016. See https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estate-Tax
This exemption allows a couple to escape estate taxes on at least $10,900,000 if they do proper estate planning.
Of course, I would be honored to assist them.
By Kevin Staker