Forbes contributors publish independent expert analyses and insights. I write about charitable giving and estate planning ideas. Many taxpayers created irrevocable trusts and transferred significant ...
The Internal Revenue Service (IRS) has introduced a significant change affecting irrevocable trusts, altering how the step-up in basis applies to assets within these trusts. This adjustment could have ...
With the recent increase of the 2026 federal estate and gift tax exemption to an unprecedented and astounding $15 million per person (a whopping $30 million for married couples), the necessity of ...
Dear Liz: I own a house with my longtime boyfriend. If one of us dies, how does the capital gains step-up affect the other? Answer: The deceased partner’s share of the home will get a new basis for ...
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