Every estate is unique and, based on the circumstances, must use the right planning technique to carry out the needs and wishes of the client. Portability is one of those techniques and is best applied to households worth between $5.6 and $10.8 million. One spouse is able to, essentially, take the entire estate with a stepped up basis and little or no estate tax. However, little or no control is left to the original creator which means the remaining spouse must be trustworthy that they will carry out the wishes of the testator.
See Donald J Korn, Estate Planning: When Portability Won’t Be Enough, Financial Planning, May 26, 2015.
