23
November
When it comes to your family’s legacy, every dollar you can save from tax collection counts. One way to keep your assets out of the hands of the IRS is the formation of a community property trust. Why Establish A Community Property Trust The short answer is it can save a married couple substantial capital gains taxes on highly-appreciated property (e.g. stock, real property, business interests) sold after the first spouse dies. All the assets in a community property trust are eligible for a step-up in their tax basis on the death of the first spouse, whereas, in a typical Utah revocable trust, only.
