The applicable exclusion amount used to be known as the unified credit and is an exemption of a certain amount of gifts made during one's life from the Federal gift tax. It also allows for part of an estate to be considered exempt from the Federal Estate Tax. The gift tax that is exempt is one million dollars and will remain in tact even after the estate tax is repealed in 2010. Married couples should consult with an estate planner to insure they don't lose the amount of money that could have been saved had it been in sheltered using the applicable exclusion amounts available to them. Using these exemptions can protect the remaining spouse and make sure they are provided for, in addition the estate planner can explain how to move ahead using the exclusion amount for future planning.