Federal Estate/Gift Tax Exemption Rises for 2014

For deaths in 2014, the federal gift and estate tax exemption amount is $5.34 million, up from $5.25 million in 2013. The tax affects only the nation's richest families; fewer than 4,000 estates nationwide will have to pay the federal tax, according to most estimates.

The annual federal gift tax exclusion amount remains the same in 2014, at $14,000 per recipient.