In order to prevent the loss of husband’s $12.06 million exemption, a portability election must be made on a timely filed estate tax return for his death. This filing “ports” or transfers ...

In general, portability allows a surviving spouse to claim their deceased spouse’s unused estate tax exclusion amount, however portability does not apply to generation-skipping transfer tax ...

Retirees focusing on estate planning can be thankful for increased gift tax exclusions. For investors still saving for retirement, new 401(k) portability rules can affect late-career job changers.