In this episode of Tax Boss we discuss portability and estate planning, transfer taxes between married couples, prenups and generation-skipping transfer tax.
IRS form 706 (Revised November 2018)
1:43 Portability and transfer taxes between married couples (11.2 million dollars exemption currently, 22.4 together)
2:43 “I love you” Wills
3:50 how portability works and filing an estate tax return form 706
5:12 capturing the portable amount before Congress changes their mind
6:20 what about getting re-married? How would the IRS handle the prenup?
8:07 the generation skipping transfer tax is not portable