Estate and Gift Tax Planning

Step-Up in Basis in a Distribution from an Irrevocable Grantor Trust

For many planners, the ability to get a stepup in basis for income tax purposes is of more importance than estate tax concerns.The reason for this is that, with the very large exemption/credit amounts, relatively few estates pay estatetax. On the other hand, the assets of all decedents can potentially receive a step-up in basis...

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