For legally married couples, the portability provision allows for the transfer of the federal estate tax exemption from the estate of a spouse who passes away to the estate of the surviving spouse. Given that the maximum federal estate-tax exemption in 2019 is $11.4 million per person, by making use of the portability provision, the federal exemption upon the second spouse's death can increase from $11.4 million to $22.8 million.
How the Portability Provision Can Double Your Exemption From Federal Estate Tax
Blog Posts, Elder Law, Estate Planning
Excerpt
For legally married couples, the portability provision allows for the transfer of the federal estate tax exemption from the estate of a spouse who passes away to the estate of the surviving spouse. Given that the maximum federal estate-tax exemption in 2019 is $11.4 million per person, by making use of the portability provision, the federal exemption upon the second spouse's death can increase from $11.4 million to $22.8 million.
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