All of the following are attributes of ATRA, EXCEPT:
(A) “Clawback” was avoided resulting in no post-mortem inclusion of lifetime gifts in excess of the applicable credit amount in existence as of date of death.
(B) ATRA ended an 11 year period of uncertainty regarding estate tax exemptions and transfer taxation and provided us with clarity in planning.
(C) Estate, Gift and GSTT exemptions are “permanent” and set at $5 million (indexed for inflation).
(D) Reduced the maximum transfer tax bracket to 40%.
(E) Permanently extended spousal “portability”.