With the passage of the American Taxpayer Relief Act of 2012, the portability election for the estate and gift tax exclusion became permanent. While portability was available in 2011 and 2012, it was not until 2013 that it became a permanent fixture and changed the estate planning landscape for married couples. The portability election can […]
Tag Archives: portability
Estate and Gift Tax Escapes the Fiscal Cliff
04
Jan
After months of uncertainty and debate about what changes would be made to the Federal estate and gift tax (transfer tax), the newly minted American Taxpayer Relief Act (the “Act”) has provided answers that many were anxiously awaiting. While many believed the estate and gift tax landscape would undergo significant change from the taxpayer-friendly laws […]