For decedents dying in 2015, the applicable exclusion amount (or the value of assets a decedent may own without incurring an estate tax liability) is $5,430,000.
The annual gift tax exclusion (or the value of assets a donor may gift to each person without incurring a gift tax liability) will remain $14,000 for 2015 gifts. For more information on what’s new in estate and gift tax, see the IRS website.