Estate Tax Exemption “Portability”: Is it right for you? One of the significant changes under the American Taxpayer Relief Act of 2012 (ATRA) enacted in January, was to make estate tax exemption “portability” permanent. What is “portability”? When one spouse dies, portability allows the surviving spouse to use the deceased spouse’s unused exemption amount. This … Read more
The Estate Tax Exclusion Amount: It is “Permanent” only as long as they say it is! We were told at the end of December last year that there is a “permanent” fix to the estate tax issue. Of course, for federal tax law purposes, something is “permanent” only so long as Congress and the President … Read more
The Clock is Ticking: The tax law is set to change in a radical way and opportunities may cease to exist at midnight on December 31, 2012. History To understand the impending deadline, a little history is in order. Former President George W. Bush signed a number of tax cuts into law in 2001 and … Read more