portability: sharing the estate tax exemption

6 key points.

by barry j. friedman, cpa
industrynewsletters

portability is actually a simple concept. it means that if one half of a married couple doesn’t use up the entirety of the federal estate tax exemption at death, the surviving spouse can use this leftover portion, plus his or her own exemption.

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it makes a high federal estate tax bill less likely. this provision has changed the way estate planning can be approached today.