Basis Step-Up

Under current law, the federal estate tax will be eliminated for the year 2010. The income tax "step-up" in basis rule for most property included in a decedent's estate also is eliminated for that year. Rather, the decedent's basis "carries…

Under current law, the Federal estate tax will be eliminated for 2010. The income tax "step-up" in basis rule for most property included in a decedent's estate also is eliminated for that year. Rather, the decedent's basis "carries over" to…

It has long been accepted as nearly axiomatic, from a wealth tax planning perspective, that lifetime gifts and other transfers are more efficient than deathtime transfers. Two common reasons account for this.

In recent years, some practitioners have been advising clients to make installment sales of assets to a grantor trust to achieve certain estate planning results. If the trust documents are appropriately drafted and the trust carefully…

This Article analyzes Alaska's new community property law, which permits married residents to elect a community property regime. This Article analyzes the tax aspects when a resident establishes a community property trust. Specifically,…