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July 26, 2023
Question

Estate Tax Portability

  • July 26, 2023
  • 1 reply
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My wife and I have net worth of $15M.  If she dies before me, would her estate be able to transfer (portability) her Estate Tax Exemption amount to me?  Is all of the $15M community property? Would her Estate Tax only report her community number property half?  Is there any benefit to how the $15 M is registered?  (eg only $1M is registered in her name or jointly with me). 

1 reply

Employee
July 26, 2023

You really do need to consult with legal counsel experienced in estate planning issues.

 

Portability, in general, is available but not automatic (it typically requires filing a 706, which is beyond the capability of most).

 

Please consult with legal and or tax professionals in your state.

 

See https://www.avvo.com/estate-planning-lawyer.html