http://www.walterbristow.com/2009/08/19/whither-the-estate-tax/ ... and musings on the law, taxes, insurance, and a variety of other topics Thu, 02 Feb 2012 23:28:46 -0700 http://wordpress.org/?v= hourly 1 http://www.walterbristow.com/2009/08/19/whither-the-estate-tax/comment-page-1/#comment-1649 David Shulman Wed, 26 Aug 2009 18:08:09 +0000 http://www.walterbristow.com/?p=1554#comment-1649 Dan, depending on how it's done, I think exemption portability could lead to a big increase in business. The key question will be HOW will each spouse record and transfer the exemption? It seems like it will be on a 706. In the past, if you had a first deceased spouse who was a little bit under the exemption, you didn't file the 706. Portability could open the door to many more people being advised to file a 706 to lock in the exemption amount. Dan, depending on how it’s done, I think exemption portability could lead to a big increase in business. The key question will be HOW will each spouse record and transfer the exemption? It seems like it will be on a 706. In the past, if you had a first deceased spouse who was a little bit under the exemption, you didn’t file the 706. Portability could open the door to many more people being advised to file a 706 to lock in the exemption amount.

]]> http://www.walterbristow.com/2009/08/19/whither-the-estate-tax/comment-page-1/#comment-1539 Dan Shumway Thu, 20 Aug 2009 21:38:09 +0000 http://www.walterbristow.com/?p=1554#comment-1539 The concept of "exemption portability" is terrific. Implementing it would free up untold millions or billions of dollars now spent on accountants and attorneys for federal estate tax planning. I am a CPA and an attorney. I do a fair amount of estate planning in my general practice. Exemption portability would effectively shut-down 99% of my federal estate tax planning business. I won't complain. I say, "Hurray for reduced regulatory burden!" The concept of “exemption portability” is terrific. Implementing it would free up untold millions or billions of dollars now spent on accountants and attorneys for federal estate tax planning. I am a CPA and an attorney. I do a fair amount of estate planning in my general practice. Exemption portability would effectively shut-down 99% of my federal estate tax planning business. I won’t complain. I say, “Hurray for reduced regulatory burden!”

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