Making Spousal Estate Tax Exemptions Transferable
Mitchell M. Gans and Jonathan G. Blattmachr
10 PROBATE& PROPERTY NOVEMBER/DECEMBER 2005Under the Internal Revenue Code of 1986, taxpayers are permitted a federal gift tax exemption and an estate tax exemptiion Although technically not exemptiion but more in the nature of exemptiio “equivalents” that entitle taxpayeer to a credit, each is more easily understood as an exemption. The gift tax exemption, as so understood, is million for each taxpayer and is not scheduled to increase. The estate tax exemption, as also so understood, is ...