Sentences with phrase «unused federal estate»

It also means that a same - sex spouse can transfer any unused federal estate tax exemption at death to the surviving spouse.

Not exact matches

Portability rules allow a surviving spouse to take advantage of any unused portion of their spouse's applicable exclusion amount, provided that a federal estate tax return is filed to preserve the deceased spouse's unused applicable exclusion amount within 9 months (15 months if an extension is granted).

While the Roth IRA will be included in the grandparent's taxable estate and so be subject to federal estate tax, in many cases the Roth IRA will pass to the grandchildren tax free if the total estate is less than the unused portion of the unified credit.

Portability allows a surviving spouse to preserve a deceased spouse's unused estate tax exemption by filing a federal estate tax return.