Estate taxes and gift taxes can feel like something you don’t need to worry about — until your home value, retirement savings, and investments are added up on paper. For many families, the numbers get big faster than expected. If you’re planning to leave assets to children, grandchildren, or other loved ones, understanding estate and gift tax figures helps you make smarter choices now and avoid surprises later.
Knowing these limits also helps you plan with confidence and clarity. The Law Offices of Kobrick & Moccia helps clients make sense of the federal and state tax landscape and build estate plans with structure and protection in mind. Led by attorney Anthony Moccia, a member of the New York State and Nassau County Bar Associations, the firm is focused on education and practical planning that supports your long-term goals.
Why Estate and Gift Tax Figures Matter
Estate and gift tax rules affect how wealth is transferred — both during your lifetime and after you pass away. Even if you never expect to owe tax, these figures still matter because they shape planning decisions like:
- Whether a trust may be helpful
- How and when to give gifts to loved ones
- How to protect wealth if long-term care becomes necessary
- How to coordinate retirement accounts with the rest of your estate plan
The Basics of Estate Tax and Gift Tax
In simple terms, the estate tax may apply to what you own at death. Gift tax may apply to certain gifts you give during your lifetime. These two systems are connected because there’s a lifetime “bucket” of federal tax-free transfers you can use either while you’re alive or after you pass away.
That’s why it’s important to understand how gifts, trusts, and beneficiary designations work together — especially if you own a home, have substantial savings, or want to leave a meaningful legacy behind.
2025–2026 Federal Estate and Gift Tax Figures
Below are key federal figures many families use when planning. These amounts can change with new laws and inflation adjustments, which is why reviewing your plan regularly matters.
Federal
Estate and Gift Tax Applicable Exclusion
The amount that can be passed free of federal tax. Whatever amount is used during a lifetime is no longer available for use to pass assets at death. The 2026 Estate and Gift Tax Applicable Exclusion is $15 million.
Annual Gift Tax Exclusion
The amount that can be given to each person you want without using any Applicable Exclusion. The Annual Gift Tax Exclusion is currently $19,000.
Generation-Skipping Tax Exemption
This allows for giving to people who are grandchildren or other “skip persons.” It may also be used as a sophisticated way of avoiding the federal estate tax at the death of a child. Each person currently has $15 million of Generation-Skipping Tax Exemption.
How These Figures Can Affect Your Planning
These numbers don’t just matter for the ultra-wealthy. They can also affect families who:
- Own real estate in high-value areas
- Have large retirement accounts built over decades
- Own a business or real estate investments
- Want to make meaningful gifts while they’re alive
A smart estate plan can help keep everything coordinated — your will, trust (if you have one), retirement beneficiaries, and long-term goals for how assets should move through your family.
If you’re a business owner, it may also make sense to review asset protection, business planning, and estate planning for family-owned businesses and farms, since taxes and succession planning often overlap.
Where State Taxes Come In
Federal rules aren’t the whole story. Some states have their own estate or inheritance taxes, and those thresholds may be much lower than federal limits. That means a family could potentially be below federal levels but still needs to plan carefully at the state level.
Why Choose the Law Offices of Kobrick & Moccia for Help Navigating Estate and Gift Tax Figures in Garden City, NY?
Estate and gift tax figures can be confusing, and bad assumptions can lead to expensive mistakes. The Law Offices of Kobrick & Moccia is focused on helping Long Island families understand the rules in plain language, make informed choices, and build plans that protect what matters most.
Attorney Anthony Moccia earned his law degree from Touro Law School and has been part of the firm since 2006, later taking ownership in 2021. He is admitted to the New York State and Nassau County Bar Associations and is involved in elder law and trusts and estates work through those organizations. The firm also offers educational resources and seminars so you can learn your options and take action before decisions become urgent.
Protect Your Legacy With a Clear Plan
Estate and gift tax figures are only one piece of the bigger picture, but they can influence major decisions — especially when your estate includes a home, retirement savings, or business interests. With the right planning, you can reduce confusion, protect your loved ones, and build a legacy that reflects your values.
To discuss estate planning strategies with a focus on protecting what you’ve built, reach out to the Law Offices of Kobrick & Moccia, serving Garden City, Hauppauge, and Harrison, NY. Call (516) 248-9500 to schedule a consultation.