Basis planning is a critical tool for minimizing tax liabilities and maximizing asset value during estate planning and transfers. This session will explore strategies to optimize basis adjustments, including step-up and step-down considerations, and their impact on capital gains and estate taxes. Gain insights into common scenarios, such as gifting versus inheriting assets, and learn how to structure transactions to achieve favorable tax outcomes for your clients. Whether planning for lifetime gifts or post-mortem transfers, this session equips attorneys with the knowledge to enhance the financial benefits of their clients' estate plans. Originally presented as part of Estate Planning Short Course 2025.
Credits: 1 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 0 Other PR
Expires 05/01/2027
Basis planning is a critical tool for minimizing tax liabilities and maximizing asset value during estate planning and transfers. This session will explore strategies to optimize basis adjustments, including step-up and step-down considerations, and their impact on capital gains and estate taxes. Gain insights into common scenarios, such as gifting versus inheriting assets, and learn how to structure transactions to achieve favorable tax outcomes for your clients. Whether planning for lifetime gifts or post-mortem transfers, this session equips attorneys with the knowledge to enhance the financial benefits of their clients' estate plans.
Shawn M. McCullough, Harrison LLP, Chicago
