Step It Up For Step-Up In Basis

The IRS announced the 2015 annual exclusion amount will rise to $5,430,000.  The continued rise of the annual exclusion has made U.S. taxpayers shift their focus from estate tax planning to income tax planning.  At the heart of that planning is cost basis management. ...

The Basics of BDITs

A Beneficiary Defective Inheritance Trust (“BDIT”) is an irrevocable trust that freezes the value of assets for gift and estate tax purposes when such assets are sold to the trust by a beneficiary (“beneficiary-seller”), who has the added benefit of being eligible to...

CTC 2015 Annual Newsletter

Commonwealth Trust Company’s 2015 Annual Newsletter includes the following topics: Delaware Tax Trap Planning – How to Take Advantage of a Step-Up in Income Tax Basis in a World of Increased Estate Tax Exemptions Delaware Asset Protection Trusts as an...