Congress Considering
March 5, 2009

Congress is indirectly considering an interesting concept that touches on Estate Planning. The idea being kicked around is “portability” of the exemption equivalent. It means that: if a spouse dies and does not, or cannot, fully utilize his or her exemption equivalent (for 2009 that amount is 3.5 Million Dollars), then at the surviving spouse's death any unused portion from the first spouse, plus the exemption available to the second to die, can be applied on the federal estate tax return of the second to die. Worthy of consideration and perhaps a call to your representative? Maybe.

If you have questions, please contact:
Charles B. Jones, Esquire

CJones@TandLLaw.com
(410) 752-2468