The recent tax law change permanently increased the federal estate and gift tax exemption to $15 million per person for 2026 and later. This means you can give away while alive and/or bequeath at death this amount of money or property free of federal estate and gift tax. If you’re married, you and your spouse each get a $15 million exemption. Thus, for a married couple, your combined estate and gift tax exemption is $30 million for 2026 (it’s adjusted for inflation each year)