Dear Liz: You recently responded to a reader’s question about protecting an intended bequest. In the answer you wrote, “Assets in the trust get a step-up in tax basis when the first spouse dies, but ...

What is the step-up benefit of a revocable trust from the perspective of the beneficiaries? How can a revocable trust not only pass money and assets to your beneficiaries but save a substantial amount ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Estate planning has long been about building and preserving wealth, minimizing taxes and ...

Understanding how the basis step-up rule operates is important for navigating the complexities of estate planning and taxation, as it can significantly impact the financial outcomes of inheritances.