The tax man doesn’t mind allowing you to pass along assets to your spouse tax-free, because your spouse will still be exposed to the death tax. Because of this, high net worth individuals must implement tax efficiency strategies in advance. Utilization of the unlimited marital deduction is not a comprehensive estate planning solution for wealthy individuals. Because of the recent Supreme Court ruling that found a portion of the Defense of Marriage Act unconstitutional, the unlimited marital deduction extends to same-sex couples who are legally married in the state of New York and elsewhere.
Topics covered in this report include:
- Bequests to Spouses
- Same-Sex Married Couples
- Unification of Gift & Estate Taxes
- Portability of Estate Tax Exclusion
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Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
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