Democrats have promised to return the estate taxes to their historic norms. Before Congress passes bills lowering the estate tax exemption amount, taxpayers should act. Here are ideas about how to reduce possible future estate taxes.
Democrats have promised to return the estate taxes to their historic norms. Before Congress passes bills lowering the estate tax exemption amount, taxpayers should act. Here are ideas about how to reduce possible future estate taxes.
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.
An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves your purposes? Is it too late to change it? Under Utah law, there are options to fix a “broken