Putting The Increased Estate to Work

The portability provisions and
the increased federal transfer tax exemptions of the Tax
Relief, Unemployment Insurance
Authorization and Job Creation Act
of 2010 (“Tax Act”), Pub. L. No. 111-
312, 124 Stat. 3296, have dramatically
increased the value of the estate that
a client can give away during life or
own or control at death without incurring federal transfer tax, at least until
the end of 2012. This article discusses
five ideas for using that new increase
in a client’s transfer-tax protected
estate (the “Increased Estate”).