Portability: 4 Approaches Practitioners Need to Know

Portability is a vital part of estate administration for estates of all sizes. Even smaller estates should not forgo the opportunity to preserve exemption. This program will review the four options or approaches to securing a deceased spouse’s DSUE or portable exemption. These include: (1) Form 706 (including buying time with an extension); (2) a portability only Form 706; (3) a late filed portability only Form 706 pursuant to Rev. Proc. 2022-32; or (4) Code Sec. 9100 late election relief. Various authorities applicable to understanding and implementing portability will be reviewed including: Rev. Proc. 2016-49, Rev. Proc. 2001-38, and more. Various planning strategies will be evaluated: 100% to Spouse, 100% to Bypass Trust, 100% to Bypass Trust with formula contingent general power of appointment, 100% to QTIP Trust, 100% to Clayton QTIP Trust, 100% to Spouse followed by a large gift, and finally various combinations of the above approaches. Finally, we’ll explore what estate tax law changes and even estate tax repeal may mean to portability.

Speakers: Robert S. Keebler, CPA and Martin M. Shenkman, Esq.

*This may constitute attorney advertising.

* No CPE, CLE, etc. is offered but a certificate of attendance will be provided.