Common use of Power to Elect Clause in Contracts

Power to Elect. “Portability”. In addition to the tax powers hereinabove set forth, my Personal Representative is specifically authorized to elect, to the extent and in the manner authorized by §2010(c)(2) of the Code and any applicable regulations thereto, the allocation to my wife of any unused portion of my “applicable exclusion amount” for federal estate tax purposes; it is my intent that my Personal Representative shall affirmatively elect “portability” of the “deceased spousal unused exclusion amount” [as said term is defined in §2010(c)(4) of the Code] pursuant to §2010(c)(5)(A) of the Code.

Power to Elect. “Portability”. In addition to the tax powers hereinabove set forth, my Personal Representative is specifically authorized to elect, to the extent and in the manner authorized by §2010(c)(2) of the Code and any applicable regulations thereto, the allocation to my wife husband of any unused portion of my “applicable exclusion amount” for federal estate tax purposes; it is my intent that my Personal Representative shall affirmatively elect “portability” of the “deceased spousal unused exclusion amount” [as said term is defined in §2010(c)(4) of the Code] pursuant to §2010(c)(5)(A) of the Code.