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Portability Issues

‐ Jul 23, 2012 2:30pm

Credits: None available.

An interesting provision within the Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010 (Tax Relief Act) allows an
executor of an estate of a married decedent the option to transfer any unused
estate tax exemption amount to the surviving spouse. Thus, for example, if the
decedent used only $3 million of his $5 million estate tax exemption amount,
the estate could elect to have the remaining $2 million pass to the surviving
spouse, giving the surviving spouse a $7 million total estate tax exemption
amount. Although this portability provision seems simple on the surface,
it introduces important planning considerations and traps for the unwary.
This session will cover:
• Key estate, gift and GST provisions of the 2010 Tax Relief Act
• In-depth analysis of the new portability rules
• Illustrations of how the portability rules work
• Discussion about how portability will affect different types of clients
• Other estate planning opportunities in 2012


  • 0.00 - Tax