Last Deceased Spouse

By: Martin M. Shenkman, CPA, MBA, JD

On your death, if your previously deceased spouse had not used his or her estate tax exclusion you may, under the new portability concept, be permitted to take advantage of that unused exclusion. To assure that your estate will only benefit from one such prior unused exclusion, and to provide clarity as to which exclusion, it is the exclusion of your last deceased spouse that governs

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