Now’s the time to take advantage of the newly increased federal gift and estate tax exemption and annual exclusion. In a Portland Business Journal article, Tim Donnelly, senior vice president and market leader for Washington Trust Bank, shared his thoughts on making tax-free financial gifts that could help your heirs economically now and in the future.
Don’t overlook recent changes to the federal gift and estate tax exemption and annual exclusion. Both are indexed to increase with inflation, and both jumped in 2024.Tim Donnelly, SVP / Market Leader