News & Analysis as of

Capital Gains Inheritance

Chambliss, Bahner & Stophel, P.C.

Step-Up in Basis and Why It Matters in Estate Planning

Recent news stories may have made you aware of the “step-up in basis” and the current administration’s desire to eliminate or adjust it. If you are considering engaging in estate planning or you may be inheriting assets,...more

Weintraub Tobin

Election Results – What Could They Mean To You? Tax Updates For A Biden Presidency

Weintraub Tobin on

2020 has been a year to remember for so many reasons: a global pandemic, the race to a vaccine, and an election with record-breaking voter turnout. President-elect Joe Biden and his running mate Vice President-elect Kamala...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner - September/October 2019

Is silence golden? The good and the bad of keeping your trust a secret - It’s common for parents to set aside money or other assets in trust for their children or grandchildren. At the same time, many parents agonize...more

Chambliss, Bahner & Stophel, P.C.

What Is Cost Basis and How Do You Prove It?

Knowing the "cost basis" of your property is important for tax purposes, but proving cost basis can be difficult. Cost basis adjusts at death, so it is a good idea to appraise property when a joint owner dies. Cost basis...more

Baker Donelson

Business Succession Planning in the Current Tax Environment

Baker Donelson on

Business succession planning in the current tax environment may require an adjustment in thinking from traditional planning. Traditional planning usually attempts to transfer ownership of the business to the next owner (often...more

McGuireWoods LLP

State of the Union Surprise: President Targets Inherited Assets in Middle-Class Tax Reform

McGuireWoods LLP on

After the American Taxpayer Relief Act of 2012, many in the estate planning community thought that tax law dealing with estates and trusts was settled for some time. President Obama’s earlier budget proposals calling for a...more

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