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IRS Simplifies Procedure for Obtaining Extension to Make Portability Election
Earlier this month, the IRS issued a Revenue Procedure that allows certain estates to make a late portability election without first filing a ruling request. Portability is a tax law provision that permits a surviving spouse to take advantage of the deceased spouse’s unused combined gift and estate tax exemption (currently $5.49 million). But portability ...

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TO PORT, OR NOT TO PORT: THAT IS THE QUESTION (Lifetime Exemption Planning)
“A goal without a plan is just a wish.”Antoine de Saint-Exupery   Barb scurries about the house taking care of last minute details, while Mike is in the garage pulling down the decorations. Barb and Mike have hosted many family gatherings in their 40 years of marriage, but this year will be a little different.  Mike ...

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