The amount of tax-free money you can give or leave to someone upon your death is increasing in 2025.

Q. Are the gift and estate tax laws going to change in 2025?

A. The gift and estate tax laws are not changing at the start of 2025, but if lawmakers in Washington, D.C., don't pass new legislation by the end of the year, there will be big changes at the end of 2025.

To start the year, the dollar amount you can give away tax free during your lifetime or at death will be increasing from $13,610,000 to $13,990,000. This is the dollar amount of taxable gifts that each person can make while living or at death. If you give away more than $13,990,000, whether during your lifetime or at death, and the gift is not otherwise exempt from gift or estate taxes, the excess over that amount will be taxed at 40%.

Advertisement

Article continues below this ad

A........

© Houston Chronicle