Under the American Taxpayer Relief Act of 2012 (ATRA), the federal gift, estate and generation-skipping transfer (GST) tax exemptions of $5 million for individuals and $10 million for married couples (subject to an inflation adjustment) were made permanent, as was portability for the estate and gift tax exemptions. As a result of portability and the increased exemptions, it’s estimated that less than 0.2 percent of all estates will now be subject to
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