In this episode of the AICPA Personal Financial Planning Podcast, Cary Sinnett welcomes Bob Keebler, a nationally recognized expert in estate and tax planning. Together, they break down the critical topic of portability in estate planning—what it is, how it works, and why it matters for both financial planners and clients.

Key Insights:
Portability: Use It or Lose It – If you don't elect portability within the required time frame, the deceased spouse’s unused estate tax exemption is lost forever.

Deadlines Matter – The DSUE must be filed within 9 months of death, but an extension up to 15 months is possible. For smaller estates, a late portability election may be available for up to 5 years.

Bypass Trust vs. Portability – While portability can double a surviving spouse’s exemption, a bypass trust protects future growth from estate taxes. The right choice depends on long-term tax projections.

Estate Planning in 2025 & Beyond – The current $14 million exemption per person is set to sunset in 2026, potentially dropping to $7 million. Planners must prepare clients accordingly.

CPAs Must Be Proactive – Even if a CPA isn’t directly engaged for estate tax returns, they should ask key questions about a client’s estate plan, especially if the surviving spouse's assets could exceed the future exemption limit.

Resources & Links:

AICPA PFP Section
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Related video and slides: Estate planning deep dive (exclusive to PFP Section members)

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Estate Planning & Portability

AICPA Personal Financial Planning (PFP)

Estate Planning & Portability