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Trusts & Estates

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Trusts & Estates

The Basics of Basis: How It Works

by Jeremiah H. Barlow, JD | Trusts & Estates Law Faculty, WealthCounsel

Before the American Taxpayer Relief Act’s (ATRA) enactment in 2013, estate planning attorneys focused primarily on how to avoid the impact of estate tax.
What a difference a few years makes! Today’s post-ATRA environment is one with increased income tax rates and significantly higher federal transfer tax exemptions. In 2015, the estate tax exemption is $5.43 million, which applies to only .2% of deceased Americans. In this new estate tax landscape where income tax has effectively become the new death tax, today’s estate planning professionals should consider income taxcentric strategies; most notably, leveraging the step-up in basis.


With 2015 drawing to a close, now is the time to learn more about basis and why it is important to talk to your clients about it to help minimize their tax burden. Please download this Insight Brief for "The Basics of Basis" and then explore how Wealth Docx provides you all the options and guidance you need to effectively plan for your clients under this new "death tax."


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