“Post-ATRA: Comparing the Pros & Cons of Portability vs. ‘B’ Funding” White Paper

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With passage of the American Taxpayer Relief Act in 2012, portability has now been made “permanent”. Introduced into law for the first time in 2011 with the 2010 Tax Act, the concept of portability permits a married couple to fully utilize its combined $10 million (and now $10.5 million) lifetime exemption as indexed by letting the surviving spouse claim any unused portion of the deceased spouse’s exemption. With this provision now permanent, the surviving spouse no longer has a time limit to decide how best to use the increased exemption both during life through increased gifting and at death by protecting more of the estate from taxation.

As a result, the decision-making process with clients about whether to go with portability or with funding a B - - or whether to opt for some combination of both - - is not a simple knee-jerk decision. According to one of the nation’s leading estate planning attorneys and Ultimate Estate Planner President, Philip J. Kavesh, there were some unfortunate flaws in the way portability works that were initially a part of its introduction from the 2010 Tax Act. These flaws were not corrected; nothing has been changed about it except they basically made it now permanent because originally it was only going to be into law for two years.

If you haven’t done so already, you may wish to download our free Portability vs. “B” Funding Comparison Chart. To download our free chart, click here.

In this white paper, you will get a glimpse into a private attorney technical training on the decision-making process surrounding portability and “B” trust funding, particularly as he walks you through a number of “rules of thumb” to follow when making this decision with your clients. Additionally, you will get a Portability vs. “B” Funding Pros & Cons Comparison Chart that you can actually brand with your firm name and information and use in your client meetings.

WHAT’S INCLUDED?

  • 10 Page White Paper, Downloadable Adobe® PDF
  • Modifiable Portability vs. “B” Funding Pros & Cons Comparison Chart (in Microsoft Word)
  • Published August 2013

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