McNees Wallace & Nurick LLC: Estate Planning – IRS Issues Temporary Portability Regulations

By Frank C. Chesters The "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" was enacted December 17, 2010 and is referred to as "TRA 2010." This legislation included a significant change to the estate and gift tax applicable exclusion amount by adding...

Elaine Hightower Gagliardi on the Deceased Spousal Unused Exclusion Amount: Planning with Portability

Portability with respect to the Deceased Spousal Unused Exclusion Amount makes portability an unreliable planning tool at best; nonetheless, planners should consider whether portability can be used to the advantage of clients given stated testamentary desires. This EIA discusses the concept of spousal...