Supercharged Credit Shelter Trust versus Portability

Probate & Property Magazine: Volume 28 No. 02

By

Jonathan G. Blattmachr is a director of Pioneer Wealth Partners, LLC, in New York, New York, director of estate planning for the Alaska Trust Company, and co-developer of Wealth Transfer Planning, a software system for lawyers. Mitchell M. Gans is the Rivkin Radler Distinguished Professor of Law at Hofstra University Law School in Hempstead, New York. Diana S.C. Zeydel is a shareholder in Miami, Florida, of the international law firm of Greenberg Traurig, P.A., and national chair of its Trusts and Estates department. “Supercharged Credit Shelter Trustsm” is a service mark of Ms. Zeydel, Mr. Blattmachr, and Prof. Gans, who hereby grant permission for anyone to use it without charge provided appropriate attribution is given to them for its use.

“Portability” is a new tax election available to married persons that permits the estate of the first spouse to die to elect that the decedent’s unused estate tax exemption be transferred or “ported” over to the surviving spouse who may use it to shelter the surviving spouse’s own taxable gifts or taxable estate. Whether a couple should rely on portability may be a complex financial matter.

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