A step-up in basis can reduce capital gains tax liability on assets. Some assets can appreciate in value or lose value while owned. Examples include
You can give an inheritance while you are living. Timing can make a big difference. A split second late on a baseball swing can leave
Wealth transfer can be complicated by a number of factors. Not everyone has a job earning them large sums of money each year. This does
A home is a large investment physically and financially. Owning a home requires commitment. A lot of it. Becoming a homeowner involves monthly mortgage payments
Passing a house to heirs can be complicated whether it is a vacation home or a primary residence. For many homeowners, their personal residence is
Divorcing when in retirement can be quite messy. Divorce is complicated at any stage of life. Young families have to navigate co-parenting and support. Often
Personal and financial maturity are fundamental to being prepared to receive an inheritance. Your children are adults. Each of them has embarked on higher education,
The family vacation home holds memories and estate planning challenges. Summertime is coming. Perhaps your travel plans have been adjusted in response to COVID-19. You
Jointly owning property can be precarious to say the least. You are considering owning property jointly with a non-spouse. Maybe you are considering doing so
A step-up in basis can help with capital gains taxes. You own real estate property. You are trying to decide whether to gift this property
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