With the new 2018 tax law, the federal estate tax is increasingly irrelevant. Individuals get a $11.2 million lifetime exemption and married couples get to exclude $22.4 million. As you can probably imagine, this won’t leave too many families paying the estate tax.
But just because your estate isn’t taxable under federal law that doesn’t mean you don’t need estate planning. The cost of probate is the most tangible concern of every Nebraska resident who owns real estate and that isn’t changed by the new federal law.