Portability means the ability to transfer the federal estate tax exemption from the estate of the first spouse to die to the estate of the second spouse to die. This provision was going to expire this year but did not, so it is still in fact and there is no talk of changing that.
The maximum estate tax exemption for those dying in 2013 is $5.25 million per person. That will continue in 2014, although the amount is indexed for inflation.
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