What Is Portability and Why Should I Care?

In Estate Planning by Coolidge Wall

It is official: Congress made the lifetime $5M (adjusted for inflation) estate and gift tax exemption permanent at the end of 2012. For individuals who die in 2013, $5.25M of their lifetime and at death transfers are excluded from the 40% estate and gift tax. Congress also did married couples an additional favor – they also made portability permanent. Portability allows a married couple to combine their lifetime exclusion amounts – $10.5M per couple in 2013. If one spouse dies having used less than their $5.25M exclusion amount, their surviving spouse may add the remainder to their own personal exclusion …

Welcome

In Uncategorized by Coolidge Wall

Welcome to the Coolidge Wall, Co., L.P.A. blog. Our Dayton, Ohio office handles cases involving business and corporate law. We are dedicated to forming relationships with entrepreneurs and business owners as we help them through the legal issues that come with starting and running a business. For 165 years, our firm has provided clients throughout Ohio with trustworthy and dependable representation. Through this blog, our goal is to educate, inform and share important news and insights about corporate and business law. The more you know about the law, the better prepared you can be to help your business grow and …