by Arthur Geffen | Feb 17, 2014 | Estate Tax, Portability
The IRS has offered (Rev. Proc. 2014-18) estates of decedents dying before 2014 relief for missed “portability” elections. Estates of decedents with a surviving spouse may elect under Section 2010(c) to permit the surviving spouse to use the...
by Arthur Geffen | Jan 7, 2014 | Estate Tax, Portability
The first deceased spouse’s unused estate tax applicable exclusion amount is generally referred to as the “deceased spouse’s unused exemption” or “DSUE” amount. This amount is used to calculate the applicable exclusion amount for the surviving spouse when...
by Arthur Geffen | Aug 7, 2013 | Dallas Estate Lawyer, Dallas Probate Lawyer, Estate Tax, Portability
To make a valid portability election, the Internal Revenue Code (“Code”) requires an executor to make the election on an estate tax return filed within the “time prescribed by law” (including extensions) for filing that return. The Code further requires estate...
