Executors of estates of decedents who died in 2010 face a tough choice under the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the 2010 Tax Act). Should they elect to subject the estate to federal estate tax liability and get a step-up in basis of the assets or opt out of the estate tax into a modified carryover basis? Here’s what our experts had to say on the topic.
Life and Death Decisions
Executors of estates of decedents who died in 2010 face a tough choice under the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act...
Making the Election or Not
The challenges of dealing with the choice of tax regimes for 2010 decedents can approach you from many fronts....
Estate Tax Now or Capital Gains Tax Later?
To opt or not to opt, that is the question. ...
A Two-phased Approach
Whenever a client comes to us after the death of a loved one, particularly in the case of a surviving spouse, he's typically quite overwhelmed. ...
Two Estates, Two Decisions
The 2010 Tax Act answered many questions that lingered in practitioners' minds throughout 2010....
Consider State Tax Regimes, Too
Last summer, one of our clients in his mid-forties died unexpectedly, before we were able to finish helping him with his wealth transfer planning....
A Cautionary Tale
Most executors know that there need not be estate tax for decedents dying in 2010. ...
Unintended Consequences
What if a donor sets up a family foundation specifically because the donor wanted to avoid paying federal taxes? ...
When Electing Out Makes Sense
Our company, Fiduciary Trust Company International, was appointed executor of an estate of a client who died in 2010. ...
When There's a QPRT and GRAT
At our firm, we're facing an unusual situation concerning a client who died in 2010 during the term of a qualified personal residence trust and a grantor retained annuity trust....
