Avoiding the Stealth Estate Tax


In my last blog post, I explained the stealth estate tax created by the so-called “carry-over” basis that will apply to administration of estates in 2010, due to the U.S. Senate’s failure to act to continue the law in effect in 2009.

Pursuant to this carry-over basis, those who inherit assets in 2010 can expect to pay more taxes upon the sale of those assets because the tax basis of the assets will now be set at the price at which they were acquired by the benefactor (instead of the fair market price on date of inheritance).

Now, I want to share my crystal-ball look into the future and explain how clients can do flexible estate planning to avoid getting trapped by this stealth tax or other issues that could arise from further legislative tinkering.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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