The tax rules around estate planning differ for single individuals and married couples. Married couples can transfer assets to each other at death without incurring federal estate tax, and they may also be able to use each other’s unused estate tax exemption.
If you are single, you have your own federal estate tax exemption to work with. As of 2026, that exemption is $15 million, meaning estates above that amount may be subject to federal estate tax.
You can also make lifetime gifts to reduce the size of your estate. In 2026, you can give up to $19,000 per person each year without triggering gift tax or the need to file a gift tax return. While married individuals can combine their annual exclusions to give larger amounts, single individuals can still use gifting as an effective planning strategy over time.
Individuals with significant assets may need to start tax planning earlier and consider more-advanced strategies. Working with experienced professionals can help ensure you make the most of available options while staying aligned with your overall estate planning goals.
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Establishing an estate plan allows you to take control of important decisions, both during your lifetime and after you are gone. It ensures that your wishes are clearly documented and that the people and causes you care about are provided for in the way you want.
Every situation is different; your plan should reflect your unique relationships, priorities, and goals. Working with us can help ensure you establish the right documents and implement the right strategies with confidence. If you are ready to get started or simply have questions about your options, we are here to guide you through the process.