Estate Tax Exclusion Increased in 2015

New to 2015 is that one person can pass an aggregate of $5.43 million estate tax free (last year it was $5.34 million). If you are a couple and have a trust that must split upon the death of one of you, your trust likely should be updated for an optional split. If your estate exceeds what you can pass estate tax free, an irrevocable life insurance trust or ILIT would be helpful.