As part of the year-end negotiations to avoid the most immediate "Fiscal Cliff", Congress has made "permanent" a very favorable estate and gift tax environment. The applicable exemption amount continues at the unprecedented TRA of 2010 level of $5 million adjusted for inflation -- that is, $5.25 million for 2013.  This exemption continues to be applicable for lifetime gifts, estates, and generation skipping transfers. In addition, portability of the exemption between spouses has also been made permanent -- resulting in the potential to simplify many estate plans. It would seem that the ... Read More