Mind the Gap: A Tale of Two Exemptions

A mismatch between the estate and gift tax exemption and the GST tax exemption is not a new issue, and it can arise either by design through specific planning techniques or unexpectedly as plans evolve. These disparities may become even more common now that portability applies to estate and gift exemptions but not to GST exemptions. This presentation will review the most frequent circumstances that create these inconsistencies and explore a range of planning strategies available during life to better align or maximize exemption use. It will also cover planning options at death, including post‑mortem tools that can correct or mitigate earlier imbalances. By the end, participants will be able to recognize how these issues commonly arise and apply practical techniques to help ensure no exemption is inadvertently left unused.