Portability

What Is Federal Estate Tax Portability?

For several years now, we have been hearing about “portability.” Do you know what it means? How does the term affect you? Simply stated, portability of the federal estate tax exemption between married couples means that if the first spouse dies and the value of the estate does not require the use of all of […]

Share

Read More →

Read More →

Rethinking Old Trusts and Your Estate Planning

If you have a trust, you may think that their original purpose no longer seems compelling. Your estate plan may designate that your assets will pass into a “bypass” or “credit shelter” trust, which will pay income to your surviving spouse and ultimately pass assets to your children. Historically, it was common for married couples […]

Share

Read More →

Read More →

IRS Provides Portability Relief

IRS Provides Portability Relief

Since the federal estate tax was resurrected on January 1, 2011, the IRS has allowed for the concept of portability as a valuable post-mortem planning tool for married couples.  When an individual dies, his or her estate is exempt from this tax for an amount known as the “applicable exclusion amount.”  This amount is in […]

Share

Read More →

Read More →

Have a Very Portable New Year

Whew!  I don’t know about you but I am glad that Fiscal Cliff stuff is over — well, at least the automatic tax increase part of it. Among other issues covered in the American Taxpayer Relief Act of 2012, Congress finally resolved the uncertainty in the federal estate and gift tax law that has been […]

Share

Read More →

Read More →

Top