The IRS released final portability regulations effective June 12, 2015. The Federal Register Summary reads as follows:
This document contains final regulations that provide guidance under sections 2010 and 2505 of the Internal Revenue Code on the estate and gift tax applicable exclusion amount, in general, as well as on the applicable requirements for electing portability of a deceased spousal unused exclusion (DSUE) amount to the surviving spouse and on the applicable rules for the surviving spouse’s use of this DSUE amount. The statutory provisions underlying the portability rules were enacted as part of the Tax Relief, U
See the full regulations at: Federal Register | Portability of a Deceased Spousal Unused Exclusion Amount
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.