The Perils of Portability

(TEdec Times, Spring 2011)

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Act) Pub. L No. 111-12, 124 Stat. 32 96 provides for “portability” of the applicable exclusion amounts between spouses. Marc S. Bekerman in an article entitled “Credit Shelter Trusts and Portability” in the May/June 2011 issue of Probate and Property (Vol. 25 No. 3) raises some interesting points and serious considerations in the use of portability. Included are some of the concerns which Marc Bekerman raises – what we call the “Perils of Portability.”

Perils Of Portability PerilsOfPortability.PDF