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The IRS has recently released Revenue Procedure 2017-34 (effective 6/9/2017) to provide a permanent simplified method for estates to make an election to pass the Deceased Spouse’s Unused Exemption (DSUE) to the surviving spouse (aka the estate tax portability election). BACKGROUND IRC Section 2010(c)(5)(A) provides that for a DSUE election...

With the kick-off of the New Year, now is a good time to review your estate plan to make sure your wishes will be followed in the event of an untimely death or disability. You deserve the assurance that your assets will be transferred to those you intend in the...

Minnesota Governor Mark Dayton signed an Omnibus Tax Bill (HF 677) into law on May 23, 2013 that creates a new Minnesota Gift Tax and makes major changes to the Minnesota Estate Tax. As of 2012, Minnesota was one of only 16 states and the District of Columbia to impose an...