Those assets go to your beneficiariesyour princelingstax free. A married couple can now leave a total of $23.4 million to the kids without paying a dime in federal estate or capital gains taxes. Sydney Johnson casts her ballot as election official Clare Lewis watches near Stafford, Virginia on June 8, 2021. That lifetime exemption, as of 2021, is $11.7 million for an individual and $23.4 million for a married couple. Voila!
John and Louise Cummings know nothing about the exemption.
( z0 know :ARG0 ( z1 and :op ( z2 person :name ( z3 name :op "John" :op "Cummings" ) ) :op ( z4 person :name ( z5 name :op "Louise" :op "Cummings" ) ) ) :ARG1 ( z6 nothing :topic ( z7 exempt ) ) )
(z0 / know-01
    :ARG0 (z1 / and
              :op1 (z2 / person
                       :name (z3 / name
                                 :op1 "John"
                                 :op2 "Cummings"))
              :op2 (z4 / person
                       :name (z5 / name
                                 :op1 "Louise"
                                 :op2 "Cummings")))
    :ARG1 (z6 / nothing
              :topic (z7 / exempt-01)))
John and Louise Cummings know nothing about the exemption .
z2 :name z3
z3 :op1 2
z1 :op1 z2
z1 :op2 z4
z4 :name z5
z5 :op1 3
z3 :op2 0
z5 :op2 1
z0 :ARG0 z1
z0 :ARG1 z6
z6 :topic z7