Friday, July 15, 2011

Estate Tax Exemption Is Portable (For Now)

Recent legislation introduced a new, but perhaps temporary, estate planning concept - - exemption “portability”. Professional Alliance member, Pat McGowan cautions clients from assuming all will be ok relying on portability as the perfect estate plan. It is currently only good for two years, does not take into consideration Washington estate tax and you have the potential of losing the exemption of the spouse remarries.