Estate Tax Repeal Update: Should Portability of the Federal Estate Tax Exemption Lead to the Death of AB Trusts?

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Estate Tax Repeal Update: Should Portability of the Federal Estate Tax Exemption Lead to the Death of AB Trusts?

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#spacer{clear:left}#abc #sidebar{margin-top:1.5em}if(zs>0){zSB(3,3)}else{gEI(“spacer”).style.display=’none’;gEI(“sidebar”).style.display=’none’} Back in July I wrote about where the two remaining presidential candidates stood on the future of repeal of the federal estate tax. An article from October 15 by Tom Herman in The Wall Street Journal confirms that neither candidate has backed off from his views in July: McCain is still against full repeal and supports a $5,000,000 estate tax exemption and 15% tax rate; Obama is still against full repeal and supports a $3,500,000 estate tax exemption and 45% tax rate. That, of course, wasn’t the interesting part of the article. The interesting part is that both of the candidates actually agree on one aspect of the estate tax – offering “portability

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