TITLE

The Portable Exclusion and the Vanishing Bypass Trust

AUTHOR(S)
Gardner, Randy; Daff, Leslie; Welch, Julie
PUB. DATE
June 2011
SOURCE
Journal of Financial Planning;Jun2011, Vol. 24 Issue 6, p46
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the provision that allows the surviving spouse to use the deceased spouse's unused exclusion amount (DSUEA) for estate and gift tax purposes introduced by the U.S. Congress. The authors state that President Barack Obama included on his proposed budget for 2012 that the portability provision be made permanent. They state that the provision decreases the use of the bypass trust and eliminates the transfer taxes as a concern for many couples. They state that the estate planning focuses on probate avoidance, asset protection, and distributing the property to descendants in a beneficial way.
ACCESSION #
61354045

 

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