For people who die during 2026, the federal estate and gift tax basic exclusion amount is $15,000,000 per person, up from $13,990,000 for 2025. This is the amount you can pass to others during life or at death before any federal estate or gift tax applies. The increase comes from the One, Big, Beautiful Bill, signed into law on July 4, 2025, which amended the tax code to set the 2026 figure at $15 million.
Because the exemption is per person, a married couple in the Conejo Valley can generally shield up to $30 million combined with proper planning. For the large majority of Ventura and Los Angeles County families, this means no federal estate tax is owed, though good titling and trust planning still matter for avoiding probate and keeping a low property-tax basis.
The annual gift tax exclusion stays at $19,000 per recipient for 2026. You can give that amount to as many individuals as you like in a year without filing a gift tax return or using any of your lifetime exemption. A married couple can together give $38,000 per recipient. The exclusion for gifts to a non-citizen spouse rises to $194,000 for 2026.
Note that California imposes no separate state estate or inheritance tax, so these federal figures are the ones that govern. Families who had been rushing to make large gifts out of concern that the exemption would fall after 2025 now have a higher number to plan around for 2026.
This is general educational information, not legal or tax advice for your situation. Whether and how to use lifetime gifting depends on your assets, your goals, and your beneficiaries, so confirm any plan with your own advisors before acting.
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This article is general information, not legal advice, and does not create an attorney-client relationship. Estate and business law change often and depend on your specific situation. Speak with Donald W. Flaig before acting.