The survivor has until the end of the calendar year to sell and take the full exemption.

FORBES: Serial Homesteading

Full exemption from working could also be reduced from when their child is aged five, to age four.

BBC: Jersey benefits system to be changed after review

The full exemption of all taxes is a "promising new wrinkle, " said E.

WSJ: Cuomo, cabinet pushing his tax-free NY proposal

With the exemption up and their net worth down, the Willigs might not need a bypass trust anymore, or at least not one funded to the full exemption amount.

FORBES: Before It's Too Late

However, single filers retained the full personal exemption and standard deduction, unlike married filers.

FORBES: Move up http://i.forbesimg.com t Move down

That means that if you have a cookie-cutter plan that automatically funds a bypass trust for the full federal exemption at the death of the first spouse, you could incur unnecessary state taxes.

FORBES: Estate Tax Fraud

Taking full advantage of the exemption (found in Section 568 of a 1994 law), Yale, MIT and other elite schools now gather as the 568 Presidents' Working Group to agree on a "consensus" method for calculating need.

FORBES: Back to School

This time the prevailing view was that clients should avoid the gift tax altogether by taking full advantage of the generous exemption for lifetime gifts.

FORBES: Finally, Estate Planners Can Read The Tax Code -- Not The Tea Leaves