The 2010 Tax Act answered many questions that lingered in practitioners' minds throughout 2010. At the same time, the 2010 Tax Act presented a new question for practitioners: How do we advise executors of estates of 2010 decedents on whether to accept the default $5 million exclusion amount with a 35 percent tax rate or opt out of the estate tax and apply the modified carryover basis regime? When the gross estate is valued at under $5 million, the answer may often be simple — apply the
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