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Committeed Hearing on Portability Would Let Surviving Spouses Use Unused Oregon Estate Exclusion
Summary
Two related bills (HB 3,688 and HB 3,934) were heard simultaneously to permit surviving spouses to claim a deceased spouse’s unused Oregon estate tax exclusion (portability), aligning state practice more closely with federal rules and aiming to simplify estate planning for middle-income households.
The House Committee on Revenue held a combined public hearing April 3 on House Bill 3,688 and House Bill 3,934, which would allow portability of Oregon’s estate tax exclusion so a surviving spouse can claim the unused exclusion from a deceased spouse. Under current Oregon law the state exclusion is $1,000,000 per person and unused exclusion generally is lost on a spouse’s death; portability would effectively allow many married couples to have up to $2,000,000 in exclusion.
Presenters and witnesses described the proposal as a technical change that would spare many middle-income families expensive and complex estate planning and repeated administrative costs for trust administration. Representative E. Warner Raschke…
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