Estate Planners Must Rely on More than Portability to Ensure Preservation and Passing on of Deceased Spouse's Estate or Gift Tax Exclusion Amounts

The Tax Relief, Unemployment Insurance Re-authorization, and Job Creation Act of 2010 utilizes the concept of portability for estate planning.  However, many estate planners are now advising that relying on portability alone is not sufficient.  This is because, among other reasons, portability is not permanent, it only applies to federal estate tax, and the generation-skipping transfer tax exemption amount is not portable.


Posted by Jessica Rebarber, Associate Editor, Wealth Strategies Journal