Did you know that there is no estate/inheritance tax in New Hampshire and that New Hampshire has also eliminated its dividend tax?
The only estate tax that New Hampshire residents need to worry about is the federal estate tax. In 2026, the federal estate and gift tax exemption will rise to $15 million per individual (up from $13.99 million in 2025. This being the case, a married couple can shelter up to $30 million from estate taxes.
If you make gifts within the $19,000.00 annual exclusion, those gifts do not reduce the lifetime exemption. However, please remember, the $19,000.00 annual exclusion only applies to estate tax, it does NOT apply in a Medicaid situation. Under the Medicaid rules, there is NO annual exclusion amount and if you make gifts within the 5 years of applying for Medicaid, you will likely be penalized.
If you have any questions about this, please do not hesitate to contact our office.