Death, taxes, and basis

After a client’s death, the tax treatment of appreciated assets can turn on details that were decided years earlier. Ownership structure, asset type, and estate inclusion all play a role in whether beneficiaries receive a basis adjustment and what that means for future tax exposure. With recent Internal Revenue Service (IRS) guidance prompting closer review of estate planning strategies, attorneys need a solid understanding of how stepped-up basis works and how it affects the advice they give.

A need-to-know basis

The Current Status of Stepped-Up Basis takes a focused look at basis adjustments in real planning contexts, including where it applies, where it doesn’t, and how federal guidance is influencing how attorneys think about asset transfers and trust structures. 

What you’ll learn:

• When the stepped-up basis applies at death, with attention to common gray areas
• The types of assets that qualify for a basis adjustment (and those that don’t)
• Key takeaways from Revenue Ruling 2023-2 and its impact on trust planning 
• How timing, titling, or ownership structure affect whether beneficiaries receive a stepped-up basis

You’ll also examine planning scenarios that highlight when a basis adjustment can help advance a client’s objectives and when it may have limited impact, using examples drawn from estate plans attorneys encounter in practice. 

Improve your planning insight and client advice with The Current Status of Stepped-Up Basis.

Death, taxes, and basis

After a client’s death, the tax treatment of appreciated assets can turn on details that were decided years earlier. Ownership structure, asset type, and estate inclusion all play a role in whether beneficiaries receive a basis adjustment and what that means for future tax exposure. With recent Internal Revenue Service (IRS) guidance prompting closer review of estate planning strategies, attorneys need a solid understanding of how stepped-up basis works and how it affects the advice they give.

A need-to-know basis

The Current Status of Stepped-Up Basis takes a focused look at basis adjustments in real planning contexts, including where it applies, where it doesn’t, and how federal guidance is influencing how attorneys think about asset transfers and trust structures.