On June 30, 2015, the Maine Legislature passed legislation setting the Maine estate tax exemption amount at the Federal level for decedents dying in 2016 and beyond. The Federal estate tax exemption amount for 2015 is $5.43 Million (indexed for inflation). This is an increase from the $2 Million Maine estate tax exemption amount currently in effect. In light of this change, Maine clients may wish to have their estate plans reviewed.
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