Introduction to Estate, Trust & Gift Taxation

Understanding Wealth Transfer Taxes

Estate, trust, and gift taxation governs the transfer of wealth during life and at death. These rules ensure that certain transfers of property are subject to federal tax while providing exclusions, deductions, and credits designed to promote fairness and facilitate family and charitable planning.

• Estate tax applies to transfers at death.
• Gift tax generally applies to lifetime transfers.
• Trusts may be separate taxable entities.
• Many transfers qualify for exclusions or deductions.