News & Analysis as of

Surviving Spouse Portability

Rivkin Radler LLP

Plan Now for Sunsetting Estate & Gift Tax Exemption

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As we’ve previously discussed, portability is an important feature of an estate plan. Portability allows the surviving spouse to die to “save” any of their predeceased spouse’s unused federal estate and gift exemption amount....more

Dunlap Bennett & Ludwig PLLC

Maryland And Federal Estate Tax Portability In A Nutshell

In the technology world, portability has become increasingly important as people become more mobile and reliant on a variety of devices to access and use information. Portability allows individuals to work remotely or while...more

Rivkin Radler LLP

WILLS, TRUSTS & ESTATES: PLAIN & SIMPLE – Should You Rely on Estate Tax Portability?

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Every U.S. citizen may gift, during life or at death, assets to his or her children free of federal estate or gift tax up to an aggregate amount – frequently called the “exemption amount.” The exemption amount in 2021 is...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall: You’re not paying enough attention to state estate tax laws

The Tax Cuts and Jobs Act provides greater flexibility in estate planning for many taxpayers. So, no more estate tax worries for most people, right? Not so fast. For residents of some states, state estate or inheritance taxes...more

Adler Pollock & Sheehan P.C.

Tax Cuts and Jobs Act supercharges exemption portability

Somewhat lost in the clamor of the tax changes enacted by the Tax Cuts and Jobs Act is the fact that the new law preserves the “portability” provision for married couples. Portability allows an estate to elect to permit the...more

Dickinson Wright

Estate Tax Portability – Not So Fast My Friend

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Many of you have heard of the new Federal estate tax “portability” rule that allows a surviving spouse to effectively inherit any unused federal estate tax exemption of a predeceased spouse. An individual can only use the...more

Proskauer Rose LLP

Wealth Management Update - December 2016

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December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Adler Pollock & Sheehan P.C.

Portability is a thoroughly modern estate tax break

Computers and phones aren’t the only things that are portable today. The gift and estate tax exemption is also “portable” for married couples. Portability simplifies estate planning by allowing a surviving spouse to use the...more

McNees Wallace & Nurick LLC

The Future of Credit Shelter Trusts

When the President signed the American Taxpayer Relief Act of 2012, some observers thought that certain provisions would sound the death knell for a popular legal tax shelter strategy known as Credit Shelter Trusts (CST)....more

Troutman Pepper

Addressing Portability

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As we have discussed in previous newsletters, the concept of “portability” introduced in 2012 allows a surviving spouse to use the unused federal estate tax exemption of the first spouse to die, but only if a federal estate...more

McDermott Will & Emery

New 252 Percent Estate Tax Bracket and Other Tax Changes Affect Wealthy New Yorkers

McDermott Will & Emery on

The revenue portion of the recently passed Executive Budget for 2014–2015 significantly changes New York’s estate tax and the way in which New York taxes the income of certain trusts. ...more

Stinson LLP

Minnesota Passes Gift Tax Repeal And Estate Tax Revisions

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On March 21, Minnesota made multiple gift tax and estate tax revisions. Those include: - Retroactively repealing the Minnesota gift tax that had been imposed since July 1, 2013...more

Weintraub Tobin

Estate Planning 101: What is a “Sweetheart Trust?”

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When discussing your estate planning needs with your attorney, after you discuss basic terms and concepts, your attorney will likely talk to you about the different types of revocable living trusts that may be appropriate for...more

McNees Wallace & Nurick LLC

Marriage and Taxes in 2013

Two significant events in 2013 underscored the nexus of marriage and taxes that make it possible for many couples to radically simplify their estate planning. ...more

BakerHostetler

The Benefits of Marital Deduction Planning — Even with Portability

BakerHostetler on

As discussed in a prior post, one of the helpful provisions recently added to federal estate tax law allows a surviving spouse to use any “leftover” or “unused” federal estate tax exclusion amount of a deceased spouse. The...more

Jaburg Wilk

New 2013 Estate Tax Laws Warrant Exclusion And Portability In Planning

Jaburg Wilk on

The new estate laws are challenging to comply with and will require most high net worth individuals to review their existing plan. One of the major issues is how the trust is divided on the death of the first spouse, and who...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner - May/June 2013

In This Issue: - Exemption portability: Should you rely on it? - Decant a trust to add trustee flexibility - Using the GST tax exemption to build a dynasty - Estate Planning Red Flag: Your plan includes a...more

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