A person who is named an estate executor has a considerable amount of work to do. This job isn't always easy, but it is usually considered a great honor. Understanding the role of the executor can help people creating an estate plan to name one and it can help people who are given this responsibility an idea of what is to come.
Time is running out for the extension to make portability election by surviving spouses of individuals who died after 2010. So far the IRS has been extremely lenient in allowing taxpayers relief for failing to timely make the required election to save any unused exclusion. For couples with assets of $11 million dollars the election could save their heirs over $2 million dollars.