Since none of us are getting out of this alive, you should absolutely make sure that when your spouse passes, that your lawyer files an estate tax return and elects portability.
Now, at this point, an advisor might ask, “Who cares about passing on the exemption if the client won’t have to pay the estate tax anyway?” Well, what happens if that surviving spouse comes into a great deal of money? Maybe her advisor (aka you) did a great job and grew her assets tenfold, or perhaps she took control of an existing family business and succeeded far beyond what her deceased spouse was capable of. Maybe she just hit the lottery. Regardless of the circumstance, if the surviving spouse’s potential estate grows beyond her individual exemption amount, her estate could be on the hook for an unexpected tax bill. And, something tells me that when the heirs come by your office to ask why they weren’t able to take advantage of the first spouse to die’s unused exemption, which can potentially protect millions, they won’t be assuaged by the few hundred dollars you saved by not filing an estate tax return.