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What is the federal estate, gift, and GST tax exemption per individual for 2026 under the One Big Beautiful Bill Act (OBBBA)?

$5 million indexed for inflation

$11.7 million

$13.99 million

$15 million

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2026 Statistics

Key Facts: AEP Exam

100

Course Final Exam Questions

American College graduate courses

70%

Passing Score

NAEPC / American College

5+ yrs

Estate Planning Experience Required

NAEPC

30 hrs

CE Every 24 Months

NAEPC (15 hrs in estate planning)

$15M

2026 Estate/Gift/GST Exemption

OBBBA 2025

$19K

2026 Annual Gift Exclusion

IRS

AEP is a post-licensure team-based credential, not an entry-level exam. The required graduate courses (typically GS 814 Estate Planning Applications and GS 815 Charitable Estate Planning) culminate in proctored 100-question, 2-hour final exams with a 70% pass mark; experienced candidates with 15+ years in estate planning may apply for a course waiver. After approval, AEPs must complete 30 hours of CE every 24 months (15 hours in estate planning) and pay annual NAEPC dues.

Sample AEP Practice Questions

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1What is the federal estate, gift, and GST tax exemption per individual for 2026 under the One Big Beautiful Bill Act (OBBBA)?

A.$5 million indexed for inflation

B.$11.7 million

C.$13.99 million

D.$15 million

Explanation: The One Big Beautiful Bill Act, signed into law in 2025, set the unified federal estate, gift, and GST tax exemption at $15 million per individual ($30 million per married couple) starting January 1, 2026, indexed for inflation. The pre-OBBBA TCJA scheduled sunset to roughly $7 million is no longer expected to occur.

2What is the top federal estate tax rate currently in effect?

A.35%

B.37%

C.40%

D.45%

Explanation: The top federal estate tax rate is a flat 40% on amounts above the unified exemption. The same 40% top rate applies to gifts and to the generation-skipping transfer tax.

3What is the federal gift tax annual exclusion amount per donee for 2026?

A.$15,000

B.$17,000

C.$18,000

D.$19,000

Explanation: The annual gift tax exclusion is $19,000 per donee for 2026 (inflation-indexed). A married couple electing gift-splitting may transfer $38,000 per donee per year without using any lifetime exemption or filing a gift tax return for those gifts.

4Under IRC §2056, the unlimited marital deduction is generally available only when the surviving spouse is:

A.A U.S. citizen

B.Any U.S. resident

C.Any individual with a Social Security number

D.Either a U.S. citizen or U.S. green-card holder

Explanation: IRC §2056(d) denies the unlimited marital deduction when the surviving spouse is not a U.S. citizen because Congress was concerned the spouse could leave the country before the assets are taxed in a second estate. A non-citizen spouse can still receive marital-deduction treatment through a Qualified Domestic Trust (QDOT) under §2056A.

5Which of the following gifts qualifies for the annual gift tax exclusion?

A.A $19,000 gift in trust with no Crummey withdrawal rights

B.A $19,000 cash gift made directly to an adult niece

C.A remainder interest in a vacation home transferred to a child

D.A $19,000 contribution to a future-interest discretionary trust

Explanation: To qualify for the annual exclusion, a gift must be a present interest, meaning the donee has the immediate, unrestricted right to use, possess, or enjoy the property or its income. A direct cash gift satisfies that requirement, while remainder interests and trust gifts without Crummey withdrawal rights are future interests that do not qualify.

6Deceased spousal unused exclusion (DSUE) portability is preserved only if the executor of the predeceasing spouse's estate:

A.Files an estate tax return on Form 706 in a timely manner electing portability

B.Mails a written DSUE election to the IRS within nine months of death

C.Lists the unused exemption on the surviving spouse's first Form 1040

D.Records the DSUE amount with the probate court

Explanation: Portability of the deceased spouse's unused exclusion (DSUE) is preserved only if the executor files a complete and timely Form 706 federal estate tax return and makes the portability election. Failing to file Form 706 forfeits the DSUE, even if the estate is otherwise below the filing threshold.

7Which Internal Revenue Code section governs the unified federal estate tax?

A.§61

B.§501(c)(3)

C.§2001

D.§401(k)

Explanation: IRC §2001 imposes the unified federal estate tax on the taxable estates of citizens and residents and provides the rate schedule. Sections §§2031–2046 define the gross estate, and §§2051–2058 define deductions.

8Maria gifted her son $50,000 in 2026. How much of this gift uses Maria's lifetime gift/estate exemption, assuming she has not made any other gifts to her son?

A.$50,000

B.$31,000

C.$19,000

D.$0

Explanation: The first $19,000 qualifies for the 2026 annual exclusion, leaving $31,000 as a taxable gift. That $31,000 reduces Maria's $15 million lifetime unified exemption but produces no out-of-pocket tax until the lifetime exemption is exhausted. Maria must still file Form 709 to report the taxable gift.

9Which of the following payments is generally exempt from gift tax without using either the annual exclusion or the lifetime exemption?

A.A $50,000 cash gift to a niece for her wedding

B.Tuition paid directly to an accredited university for a grandchild

C.A $40,000 contribution to a 529 plan in the donor's own name

D.Forgiveness of a $30,000 family loan

Explanation: Under IRC §2503(e), tuition paid directly to an educational institution and medical expenses paid directly to a healthcare provider on behalf of another person are excluded from gift tax entirely, with no dollar limit. Payment must be made directly to the institution, not reimbursed to the student.

10What is the basic purpose of a QTIP (Qualified Terminable Interest Property) trust?

A.To bypass federal income tax on retirement accounts

B.To allow a decedent to control the ultimate disposition of property while still qualifying for the marital deduction

C.To shelter the decedent's full unified credit from estate tax

D.To convert ordinary income into capital gain

Explanation: A QTIP trust under IRC §2056(b)(7) gives the surviving spouse a qualifying income interest for life while the decedent (typically through the trust agreement) controls who ultimately receives the remainder. The QTIP election allows the trust to qualify for the marital deduction even though the spouse does not control the remainder, an essential tool in second-marriage and blended-family planning.

About the AEP Exam

The Accredited Estate Planner (AEP) is a graduate-level multi-disciplinary credential awarded by the National Association of Estate Planners & Councils (NAEPC). It recognizes attorneys, CPAs, trust officers, life insurance professionals, and financial planners who collaborate on estate planning. Candidates must already hold an approved foundational designation (ATFA, CPA, JD, CFA, CFP, ChFC, CLU, CPWA, CAP, CSPG, CTFA, MSFS, or MST), demonstrate at least five years of estate planning experience, complete two graduate-level estate-planning courses through The American College, and provide three letters of recommendation from collaborating professionals in different disciplines.

Questions

100 scored questions

Time Limit

2 hours

Passing Score

70%

Exam Fee

Application fee + American College course tuition (NAEPC / The American College of Financial Services)

AEP Exam Content Outline

25%

Estate Tax & Gift Tax Law

Federal estate tax (IRC §2001), unified credit and 2026 exemption, marital deduction (§2056), DSUE portability via Form 706, gift tax (§2501), annual exclusion, present-interest requirement, Crummey notices, and split gifts.

20%

Trusts (Revocable, Irrevocable, GRATs, ILITs, CRTs/CLTs)

Revocable living trusts, ILITs and the §2035 three-year rule, GRATs and zeroed-out planning, IDGTs, SLATs, dynasty trusts, charitable remainder and lead trusts, and grantor trust rules under §§671-679.

15%

Will Drafting & Probate Administration

Will execution, pour-over wills, intestacy, probate process, ancillary probate, fiduciary duties of executors and trustees, beneficiary designations, POD/TOD accounts, powers of attorney, healthcare proxies, and HIPAA authorizations.

10%

Generation-Skipping Transfer (GST) Tax

Skip persons and generation assignment, predeceased ancestor rule, direct skips vs taxable terminations and distributions, inclusion ratio, GST exemption allocation, and dynasty trust planning.

10%

Business Succession & FLPs/LLCs

IRC §6166 estate-tax installment payments for closely-held businesses, §303 stock redemptions, special-use valuation under §2032A, buy-sell agreements, family limited partnerships, and lack-of-marketability and lack-of-control valuation discounts.

10%

Charitable Estate Planning

Charitable remainder trusts (CRAT/CRUT), charitable lead trusts (CLAT/CLUT), private foundations vs donor-advised funds, qualified charitable distributions, and the income, gift, and estate tax charitable deduction interplay.

Estate Planning for Non-Citizens & International Issues

Resident vs nonresident alien classification, the $60,000 estate exemption for NRAs, QDOT requirements under §2056A for non-citizen surviving spouses, expatriation issues, and U.S. estate and gift tax treaties.

Ethics & Professional Conduct

NAEPC Code of Ethics, multidisciplinary teaming, conflicts of interest, confidentiality, the unauthorized practice of law, and CE compliance to maintain the AEP designation.

How to Pass the AEP Exam

What You Need to Know

Passing score: 70%
Exam length: 100 questions
Time limit: 2 hours
Exam fee: Application fee + American College course tuition

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

AEP Study Tips from Top Performers

1Memorize the 2026 limits up front: $15M estate/gift/GST exemption, $19K annual gift exclusion, $60K NRA estate exemption — most numerical questions trace back to these.

2Build a one-page trust comparison chart (revocable, ILIT, GRAT, IDGT, SLAT, CRAT/CRUT, CLAT/CLUT, QDOT, QTIP) including grantor-trust status, gift-vs-estate inclusion, and primary tax purpose.

3Drill the §2035 three-year lookback for life insurance transfers into ILITs and the Crummey withdrawal mechanics — both appear in every administration covered.

4Practice GST inclusion ratio math and generation assignment scenarios, including the predeceased ancestor rule for grandchildren.

5Review IRC §6166, §303, and §2032A together — closely-held business questions almost always pair them on a single fact pattern.

Frequently Asked Questions

What are the eligibility prerequisites for the AEP designation?

Candidates must already hold one of NAEPC's approved foundational credentials in active status (ATFA, CPA, JD, CFA, CFP, ChFC, CLU, CPWA, CAP, CSPG, CTFA, MSFS, or MST), have at least five years of estate planning experience (15+ years allows a course waiver), provide three letters of recommendation from collaborating professionals in different disciplines, and complete two graduate-level estate planning courses through The American College of Financial Services.

What does the AEP exam look like?

AEP candidates do not sit for a single board exam. Instead, the two required American College graduate courses each end with a proctored final exam of approximately 100 multiple-choice and applied questions over a two-hour window, with a 70% passing score. The 15+ year experience waiver allows candidates to skip the course requirement, but most candidates still complete at least one graduate course.

How is the AEP different from CFP, ChFC, or CTFA?

The AEP is a multi-disciplinary post-licensure credential, not a starter designation. It recognizes that estate planning is a team sport across attorneys, CPAs, trust officers, and financial advisors. Unlike CFP or ChFC, which are broad financial planning credentials, AEP focuses exclusively on advanced estate, gift, GST, and business succession planning.

What ongoing requirements maintain the AEP?

AEPs must complete 30 hours of continuing education every 24 months, with at least 15 hours specifically in estate planning, abide by the NAEPC Code of Ethics, and pay annual NAEPC dues. Members are also expected to participate in their local affiliated estate planning council.

What is the 2026 federal estate and gift tax exemption?

Under the One Big Beautiful Bill Act (OBBBA) signed in 2025, the federal estate, gift, and GST tax exemption is set at $15 million per individual ($30 million per married couple) starting in 2026, indexed for inflation. The annual gift tax exclusion is $19,000 per donee for 2026. The pre-OBBBA TCJA sunset to roughly $7 million is no longer scheduled to occur.

How long does it take to earn the AEP?

Most candidates complete the credential in 6 to 12 months once eligibility is established. Each graduate course typically requires 75-150 hours of study, and the application, references, and review by NAEPC's national office adds several weeks. Candidates using the 15-year experience waiver can complete the credential more quickly.