Understanding Step-Up in Basis With a Living Trust: How It Saves Your Heirs Thousands
When most people think about trusts, they imagine avoiding probate, protecting assets, and keeping things private. But there’s another major benefit that many families overlook— the step-up in basis . This single tax rule can save your beneficiaries tens of thousands of dollars (sometimes more) in unnecessary capital gains taxes. And the best part? When your assets are held in a properly set-up and funded living trust , your heirs can still receive this extremely valuable tax
How to Reduce Taxes for Your Heirs: Smart Estate Planning Strategies Every Family Should Know
Most people want to leave something behind for the people they love. But without the right planning, a large portion of your estate can disappear to taxes—leaving your heirs with far less than you intended. The good news? With thoughtful preparation, you can significantly reduce (or even eliminate) the tax burden on your beneficiaries. Whether your estate is modest or substantial, understanding these strategies can make a meaningful difference for your family’s future. Below
How to Keep the Family Home in the Family for Generations
The family home often holds more than financial value—it’s a place full of memories, traditions, and legacy. Many families dream of passing it down from one generation to the next. But without proper planning, the family home can easily be lost due to probate, divorce, creditors, or mismanagement. The good news? With careful estate planning, it’s possible to keep your family home in the family for generations . Here’s how. 1. Create a Living Trust A living trust is one of th