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Estate Planning › Inheritance › Step-Up Basis

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Chambliss, Bahner & Stophel, P.C.

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

Chambliss, Bahner & Stophel, P.C. on

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

Adler Pollock & Sheehan P.C.

Insight on Estate Planning - February/March 2019: Basis consistency rules come into play when inheriting property

Adler Pollock & Sheehan P.C. on

If a person is in line to inherit property from a parent or other loved one, it’s critical to understand the basis consistency rules. Tax law provides that the income tax basis of property received from a deceased person...more

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