The unified tax credit effectively nullifies the taxes on the first $5.34 million of one's estate.

Name: The unified tax credit effectively nullifies the taxes on the first $5.34 million of one's estate.
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This is true. As of 2021, the unified tax credit for estate and gift taxes is $11.7 million, which means that individuals can pass on or give away up to $11.7 million without paying federal estate or gift taxes. For married couples, this amount is effectively doubled to $23.4 million.

The Unified Tax Credit Effectively Nullifies the Taxes on the First