Note: Italicized numbers are indexed to inflation.

¹Executors or administrators may elect out of the estate tax in 2010, but doing so subjects the estate to basis step-up limitations and must be reported on IRS Form 8939.

²The client may opt out of the estate tax regime altogether and elect the 2010 modified carry-over basis regime found at I.R.C. § 1022, and file an appropriate Form 8939.