Beginning in 2022, an estate is not subject to the federal estate tax until it exceeds the $12,040,000 lifetime exemption. For married taxpayers, the threshold is $24,080,000. In 2026, the exemption will sunset, effectively cutting the exemption amount in half. Furthermore, tax laws can change, and estates can grow. That’s why it’s important to have a plan in place to help protect your client’s legacy.