For individuals dying and gifts made after 2012, the American Taxpayer Relief Act authorizes a $5 million exemption (adjusted for inflation), and a top estate, gift, and generation-skipping transfer tax rate of 40% (up from 35%). The Act also extends portability of the Deceased Spousal Unused Exclusion Amount (DSUEA) under IRC Sec. 2010(c)(5), effective for individuals dying and gifts made after 2012. The DSUEA allows some or all of the basic exclusion amount not used by a deceased spouse’s estate to be transferred to the surviving spouse, who can use this amount, in addition to his or her own basic exclusion, for lifetime gifts or transfers at death.