Why Portability Isn't a Cure-All

Gallo, Jon J.
August 2011
Journal of Financial Planning;Aug2011, Vol. 24 Issue 8, p32
Academic Journal
The article discusses the essence of portability for the estate of surviving spouse in the U.S. It states that portability involves the two estate tax terms such as the basic exclusion amount and the deceased spousal unused exclusion amount (DSUE) wherein portability exists as the applicable exclusion amount of the surviving spouse under Section 2010 of the Insurance Research Council (IRC) is the sum of his or her basic exclusion amount plus the DSUEA. It offers information on the 2010 Tax Act which provides that the five million dollars applicable exclusion amount will be subject to inflation adjustment which will cease to apply once the taxpayer dies.


Related Articles

  • Alice in Wonderland Comes to Washington. Gallo, Jon J. // Journal of Financial Planning;Sep2001, Vol. 14 Issue 9, p36 

    This article presents suggestions for dealing with estate tax provision under the U.S. Economic Growth and Tax Relief Reconciliation Act of 2001. Under the Tax Relief Act, beginning January 1, 2010, estate taxes will be abolished. However, the repeal will last only for a year and will be...

  • The Seeds of Change. Scroggin, John J. // Advisor Today;Sep2005, Vol. 100 Issue 9, p28 

    The article examines the possible changes to the business of estate planning for financial planners in the United States in view of possible changes in federal estate taxation rulings by the Internal Revenue Service. It is expected that estate planning and probate administration would be two of...

  • JOURNAL QUIZ.  // Journal of Financial Service Professionals;Mar2006, Vol. 60 Issue 2, p85 

    A quiz is presented which covers the material in the March 2006 issue of the "Journal of Financial Service Professionals." A score of 70% or better on the quiz may result in continuing education credit from the CFB Board of Standards. The quiz covers: proposals to amend taxation laws; charitable...

  • Capital transfer tax and business. Carmichael, Keith // Accountancy;Feb1977, Vol. 88 Issue 1002, p62 

    The article discusses the problematic aspects of capital transfer tax provisions in Great Britain in 1977. Key issues discussed include problems in the capital gains tax payable in respect to the transfer, the need for considering the value of the related property and the relevance of the...

  • Will Power. Nelson, Scott Bernard // Entrepreneur;Jul2004, Vol. 32 Issue 7, p55 

    Discusses ways of building flexibility into an estate plan so heirs can avoid the difficulties posed by changing tax laws. Challenges of adjusting to the tax circumstances; Options for married couples.

  • Nontax Fundamentals in Trust Planning. Reardon, Dennis C. // Journal of Financial Service Professionals;Jan2012, Vol. 66 Issue 1, p17 

    We look at the selection of a trustee, a trustee's exercise of discretion, and designation of a successor trustee for maximum flexibility. Whether large or small, relatively complex or relatively simple, a trust arrangement that has a sound selection process, clear standards for distribution...

  • IHT band boost is an illusion, says Brewin Dolphin. Stodell, Hannah // Money Marketing;7/24/2008, p22 

    The article reports on the inheritance tax (IHT) band legislation in Great Britain. According to divisional director Beverly Lavin of Brewin Dolphin, the legislation will only benefit a limited number of people and that the move is a complete smoke and mirrors. In a meeting, she contends that...

  • Preparing for the Sunset. BARACK, LAUREN // On Wall Street;Dec2008, Vol. 18 Issue 12, Special section p10 

    The article offers estate planning tips in preparation for the expiration of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the new political regime in the U.S. in 2005. If the law expires in 2011, the estate tax would return to the rate of 55%, with only $1 million exemption...

  • What Every Practitioner Should Know: Estate Tax Planning Via Tax Reform Act of 1976. Ewing, H. Griffin // Public Relations Quarterly;Fall78, Vol. 23 Issue 3, p19 

    This article presents information regarding estate tax planning via Tax Reform Act of 1976. To explain what the unification of estate and gift tax rates means to the family tax planner, one must first research, then understand how the schedule applies to both lifetime gifts and testamentary,...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics