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Revisiting Estate Portability

by Will Graebe |

Seems like just yesterday that the 2012 Taxpayer Relief Act passed. At the NCBA Estate Planning Section meeting, I was reminded of the malpractice risks posed by the new portability provisions in the Act. I thought it would be a good idea to remind our insureds that portability of a spouse’s applicable exclusion is only available if a federal estate tax return (Form 706) is timely filed for the deceased spouse. This topic was addressed in detail in Bill Belcher’s October 25, 2012 article.   We have also revised our estate administration engagement letter to address the portability issue.

Will Graebe joined Lawyers Mutual in 1998 as claims counsel before being promoted to Vice President of Claims in 2009. He focuses his efforts on transactional matters and real estate. Contact Will at 800.662.8843 or willg@lawyersmutualnc.com.

About the Author

Will Graebe

Will Graebe came to Lawyers Mutual in 1998 as claims counsel. In 2009, Will became the Vice President of the Claims Department and served in that role until 2019. After a two-year sabbatical, Will returned to Lawyers Mutual as claims counsel and relationship manager. In his role as claims counsel, Will focuses primarily on claims related to estates and trusts, business transactions and real estate matters. Will received his J.D. from Wake Forest University School of Law and his undergraduate degree from Stetson University. Prior to joining Lawyers Mutual, will worked in private practice with the law firm of Pinna, Johnston & Burwell.  

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