Income tax basis is important in estate planning. This article examines what happens to an asset’s basis when it is gifted. It then examines what happens to the basis of an asset when someone dies with the asset and then bequeaths it to someone. Many people find it surprising that these are treated differently. Income tax basis is an important factor in considering estate planning strategies.
Income Tax Basis in Estate Planning
Michael Robinson, Estate Planning Attorney
Clients notice Michael Robinson’s unique approach to his estate planning practice the minute they walk through his office doors.
Latest posts by Michael Robinson, Estate Planning Attorney (see all)
- Living Trust Questions Answered - October 17, 2019
- What Does a Probate Court Do? - October 16, 2019
- How Will You Obtain the Care You Need? - October 16, 2019
