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Articles : Portability – A Dramatic Estate Tax Change

Portability – A Dramatic Estate Tax Change

By: Howard M. Esterces

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Recently enacted “portability’ provisions authorize estates of decedents dying in 2011 or later to elect to transfer their unused $5 million exemption from federal estate tax (increased for inflation) to a surviving spouse. ¬†This new provision will be valuable in estate planning for moderately wealth as well as for wealthy taxpayers, but it is not as simple as it may seem.