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Portability Election now has 5 year window

Home GeneralPortability Election now has 5 year window

Portability Election now has 5 year window

July 22, 2022 Posted by Don Sweet, Esq. AEP General

The IRS issued a private letter ruling [Revenue Procedure 2022-32 (irs.gov)] allowing the election of a Deceased Spouse’s Unused Exemption Amount, DSUEA, within 5 years of the death. The election is made via an IRS Form 706 return and previously, was due within 9 months of the date of death. If you have questions, please contact my office at 650-285-5400.

[https://www.irs.gov/pub/irs-drop/rp-22-32.pdf last accessed July 22, 2022].

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About Don Sweet, Esq. AEP

Don Sweet heads the San Francisco office of Rodnunsky & Associates. Don Sweet serves clients through counsel and advocacy. Whether planning an inter-generational wealth transfer strategy, adminstering the details of a trust or defending the rights of a beneficiary, Don’s efforts and focus are client centered. He is determined in pursuing client rights. Understanding the importance of value in professional service relationships, Mr. Sweet delivers creative, realistic and cost-effective solutions. With a deep and varied planning background, he works with those who seek protection of family and wealth in all areas of estate planning. Mr. Sweet holds the Accredited Estate Planner? (AEP) designation from the National Association of Estate Planning Councils. He earned his undergraduate degree from Arizona State University and earned his law degree from Whittier College of Law where he was a member of Law Review. He externed for the Honorable John Ryan, a Federal Bankruptcy Judge and Chief Judge of the U.S. Bankruptcy Appellate Panel for the 9th Circuit. Mr. Sweet has worked with private clients since 1997 and joined the California Bar in 2005.

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