Description
This session will review the background of the increased estate tax exemption and how Section 1014 of the Internal Revenue Code allows a step-up in basis at death. The session will then discuss the following four ways to increase the cost basis: (1) 'upstream' planning, (2) flexible trust drafting, (3) using general powers of appointment and (4) the Delaware tax trap.
Learning Objectives:
- To understand that the income tax is now more important than the estate tax for most people due to the increase estate tax exemption.
- To discover the numerous ways that a client can obtain an increase in the cost basis at death and eliminate the capital gain tax.
Speaker(s):
- Jeremiah
Doyle,
BS (Accounting), JD, LL.M. (Taxation), LL.M. (Banking Law),
SVP/Family Wealth Strategist,
BNY Mellon Wealth Management
