Two Paths to Fix an Estate Issue for Surviving Spouses

A missed election under Internal Revenue Code §2010(c) can leave a surviving spouse's estate carrying tax liability the law never intended. Two paths exist to correct that mistake, and each comes with its own risks and requirements.

Frost Law attorneys Peter Haukebo, Esq., and Jake Polivka, Esq., join the Accounting, Legal, & Finance Institute (ALFi) for a session that explains both correction paths using IRS rulings as a guide. The discussion covers what works, what fails, and why a fixed federal return can still leave state issues exposed.

Estate planning professionals evaluating a client's expired portability election will leave with a clearer framework for choosing the right path and avoiding the pitfalls that cause a correction to fail.

Learning Objectives:

• Identify which relief path applies to an estate based on size and time elapsed since death
• Analyze Private Letter Ruling (PLR) grants and denials to recognize favorable fact patterns and recurring pitfalls
• Weigh the cost and timeline of pursuing a PLR against the certainty it provides
• Note the limits on relying on published PLRs under §6110(k)(3)