Trusts & Estates

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel

Portability has been heralded as a way to simplify estate planning, but a closer look reveals this is not the case. As an estate planning professional it is important that you not only know that Portability exists, but also how to use it to achieve the best result for your clients.

When does it makes sense to rely on portability to achieve not only the best estate tax result, but also the best overall tax results considering income tax implications of the portability decision? In light of recent changes, it's essential to know how and when to prepare an estate plan that makes relying on portability possible. Exemption portability was a temporary feature of the 2010 Tax Act, but now post-American Taxpayer Relief Act (ATRA) of 2012, it is here to stay - at least until Congress is motivated to revisit transfer tax laws. As a result, attorneys and advisors must get comfortable with portability and its role in modern estate planning. It is essential to understand how to design and position estate planning strategies in the new estate planning paradigm of high exemptions, portability, and permanence – especially now that estate tax-driven planning is not a concern for the vast majority of clients.

Take advantage of this insightful and comprehensive thought paper, "Exemption Portability and Marital Deduction Planning under ATRA 2012," to equip yourself to protect your clients' assets with marital deduction planning in 2013 and beyond.

Please complete the form below to download this WealthCounsel Thought Paper to learn more.