How much money can be passed to family heirs tax free?

As of 2023, individuals can pass up to $12.92 million to heirs tax-free due to the federal estate tax exemption. This amount is portable between spouses, allowing a couple to pass up to $25.84 million collectively without incurring federal estate taxes. Additionally, annual gift exclusions allow individuals to gift up to $17,000 per recipient each year without affecting this exemption. It's important to consult with a tax professional, as state laws and regulations can also impact these amounts.