Tax,
Government
May 25, 2018
The myth of college for all
A proposed state-level estate tax to raise money for college tuition won't live up to its name, the College for All Act of 2018.
Megan Lisa Jones
Email: megan.jones@withersworldwide.com
Loyola Law School
Megan is a tax attorney who specializes in estate and business planning. She was previously an investment banker at firms including Lazard Freres & Company.
Starting in 2018, those who might die before 2026 can look forward to a per person amount of $11.18 million, indexed yearly for inflation, exempted from federal estate tax. This amount can also be gifted away, without paying a federal gift tax, and a like generation-skipping transfer tax amount is exempt.
While this exemption is projected to drop to about $6.5 million in 2026, the increased amount still seemingly offers some advantag...
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