what is the exemption for federal estate tax
Estate tax in the United States If an asset is left to a spouse or a federally recognized charity, the tax usually does not apply. In addition, a maximum amount, varying year by year, can be given by an individual, before and/or upon their death, without incurring federal gift or estate taxes:[3] $5,340,000 for estates of persons dying in 2014[4] and 2015,[5] $5,450,000 (effectively $10.90 million per married couple, assuming the deceased spouse did not leave assets to the surviving spouse) for estates of persons dying in 2016.[6] Because of these exemptions, it is estimated that only the largest 0.2% of estates in the U.S. will pay the tax.[7] For 2017, the exemption increases to $5.5 million. In 2018, the exemption doubled to $11.18 million per taxpayer due to the Tax Cuts and Jobs Act of 2017. As a result, only approximately 2,000 people (or 0.0006% of the population) in the US are currently liable for estate tax.[8]
Richard Benjamin Harrison Harrison died on June 25, 2018, after a battle with Parkinson's disease.[58][59] His funeral was held July 1, with his casket draped in an American flag on account of his service in the Navy. His son Rick eulogized him thus: "He was my hero and I was fortunate to get a very cool ‘Old Man’ as my dad. That I got to share him with so many others and they got to see what a great family man he was is something I am grateful to have experienced with him." Harrison was survived by wife JoAnne, three sons, 10 grandchildren and five great-grandchildren.[60] Harrison placed his son Rick in charge of his estate. Christopher Harrison, the youngest of Harrison's three sons, was intentionally omitted from his father’s will.[61]
Presentment Clause The Presentment Clause, which is contained in Article I, Section 7, Clauses 2 and 3, provides:
Washington, D.C. Washington, D.C., formally the District of Columbia and commonly referred to as "Washington", "the District", or simply "D.C.", is the capital of the United States.