The American Taxpayer Relief Act of 2012 (ATRA)1 made the applicable exclusion amount (estate tax-exempt amount) permanent at $5.25 million, indexed for inflation. It also made portability permanent.2 For this purpose, “permanent” doesn’t mean that the estate tax-exempt amount will never change. Indeed, the Obama administration has proposed reducing the estate tax-exempt amount to $3.5 million, effective in 2018, and repealing the indexing of the exempt amount for ...

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