Estate and Elder Law

Recent Posts

McNees Wallace & Nurick LLC: Estate Planning – IRS Issues Temporary Portability Regulations
Posted on 20 Aug 2012 by McNees Wallace & Nurick LLC

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... Read More

McNees Wallace & Nurick LLC: Estate Planning – Portability Provisions of TRA 2010
Posted on 2 Sep 2011 by McNees Wallace & Nurick LLC

By Frank C. Chesters The "Tax Relief, Unemployment Insurance Authorization, and Job Creation Act of 2010" was enacted December 17, 2010 and is referred to as "TRA 2010." For calendar years 2011 and 2012, TRA 2010 reunified the... Read More

Obama's 2013 Revenue Proposals
Posted on 14 Feb 2012 by Gregory Herman-Giddens

The White House has issued its 2013 fiscal year revenue proposals , with estate and gift tax changes consistent with administration's earlier stance on those rules. Beginning next year, the estate tax exemption would decrease to $3.5 million and the... Read More

Williams Mullen: Understanding Portability of Unused Spousal Exclusion: Avoiding the "sue" in DSUEA
Posted on 4 Oct 2011 by Williams Mullen

BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK Background to Portability. While the estate tax has been in force for many years, most estates have remained exempt from the tax due to an "applicable exclusion amount" that shelters a... Read More

Williams Mullen: IRS Grants Extension of Time to Make Late Portability Election
Posted on 19 Mar 2012 by Williams Mullen

BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK In December 2010, Congress created a new right of "portability" between spouses,to remedy the circumstance in which spouses were unable or unwilling to engage in estate tax planning. For deaths... Read More

Portability: Worth Filing an Estate Tax Return?
Posted on 14 Dec 2011 by Liza Weiman Hanks

Dear Liza: It is my understanding that in order to preserve the "portability exemption" a surviving spouse must file an estate tax return (706), which would not be required otherwise. It seems that 706 involves quite a bit of work and... Read More

IRS Issues Guidance on Electing Portability of Deceased Spousal Unused Exclusion Amount
Posted on 6 Oct 2011 by Jeramie Fortenberry

The Internal Revenue Service has issued guidance on electing portability of the unused exclusion of a deceased spouse. Notice 2011-82 , which was issued on September 29, 2011, reminds estates of deceased married individuals to file a Federal estate... Read More

Tax Act's Portability Feature Lets Surviving Spouse Use Predeceased Spouse's Estate Tax Exemption
Posted on 1 Jun 2011 by LexisNexis Estate and Elder Law Community Staff

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (the "2010 Act") enacted a "portability" feature; it lets a surviving spouse take advantage of any unused estate tax exemption of a predeceased spouse... Read More

Elaine Hightower Gagliardi on the Deceased Spousal Unused Exclusion Amount: Planning with Portability
Posted on 1 Oct 2012 by Elaine Hightower Gagliardi

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... Read More

McNees Wallace & Nurick LLC: Estate Planning – IRS Issues Temporary Portability Regulations
Posted on 20 Aug 2012 by McNees Wallace & Nurick LLC

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... Read More

Williams Mullen: IRS Grants Extension of Time to Make Late Portability Election
Posted on 19 Mar 2012 by Williams Mullen

BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK In December 2010, Congress created a new right of "portability" between spouses,to remedy the circumstance in which spouses were unable or unwilling to engage in estate tax planning. For deaths... Read More

McNees Wallace & Nurick LLC: Estate Planning – Portability Provisions of TRA 2010
Posted on 2 Sep 2011 by McNees Wallace & Nurick LLC

By Frank C. Chesters The "Tax Relief, Unemployment Insurance Authorization, and Job Creation Act of 2010" was enacted December 17, 2010 and is referred to as "TRA 2010." For calendar years 2011 and 2012, TRA 2010 reunified the... Read More

Williams Mullen: Understanding Portability of Unused Spousal Exclusion: Avoiding the "sue" in DSUEA
Posted on 4 Oct 2011 by Williams Mullen

BY: JOHN H. TURNER, III & JEFFREY D. CHADWICK Background to Portability. While the estate tax has been in force for many years, most estates have remained exempt from the tax due to an "applicable exclusion amount" that shelters... Read More

Tax Act's Portability Feature Lets Surviving Spouse Use Predeceased Spouse's Estate Tax Exemption
Posted on 1 Jun 2011 by LexisNexis Estate and Elder Law Community Staff

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (the "2010 Act") enacted a "portability" feature; it lets a surviving spouse take advantage of any unused estate tax exemption of a predeceased spouse... Read More