Stepping Up Basis in LivingTaxpayer Assets With UpstreamWealth Transfers ThroughIntentionally DefectiveGrantor Trusts

By: MICHAEL J. SCHAUM* I. INTRODUCTION: A NEW STRATEGY TO INCREASE BASIS IN APPRECIATED ASSETS Estate planning attorneys focus most of their practice on passing their client’s wealth down to a designated beneficiary at death. The estate planner’s typical client is a wealthy, high net-worth individual who holds a number of valuable assets. The ultimate…

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