Minnesota HF1448 allows surviving spouses to use deceased spouses' unused estate tax exclusions.

Minnesota HF1448 amends state statutes to provide for the portability of deceased spousal unused exclusion amounts in estate tax calculations. The bill allows a surviving spouse to take into account the unused exclusion amount of a deceased spouse. The election to use the deceased spouse's unused exclusion amount is irrevocable. The bill also makes technical changes and removes obsolete provisions from the Minnesota Statutes. This change affects estates of decedents dying after December 31, 2024.

Minnesota HF1448 allows surviving spouses to use deceased spouses' unused estate tax exclusions.

Minnesota HF1448 amends state statutes to provide for the portability of deceased spousal unused exclusion amounts in estate tax calculations. The bill allows a surviving spouse to take into account the unused exclusion amount of a deceased spouse. The election to use the deceased spouse's unused exclusion amount is irrevocable. The bill also makes technical changes and removes obsolete provisions from the Minnesota Statutes. This change affects estates of decedents dying after December 31, 2024.