The new Portability provision of the 2010 Tax Act allows married couples to transfer a collective $10 million estate with more flexibility with respect to timing–but there has to be a catch. In fact, there are several. Portability may encourage procrastination rather than planning. There are transfer taxes at the state level to consider, as well as Medicaid. And Congress is always a wild card.

Click to read the full text of “The Perils of Portability” from our partners at Wealth Strategies Journal.