As a service to our customers, we are happy to provide the following recent articles:
If you are a Trustee of a Trust, a Personal Representative of an Estate or an Attorney in Fact (agent) of a Power of Attorney you have a Fiduciary duty towards interested parties. Learn more about these responsibilities in Fiduciary Duties.
The answer is that it saves you capital gains taxes. Learn more about this, lifetime gifting, and the impact of the 2010 Tax Relief Act in How is the Stepped Up Cost Basis Important.
The 2010 Tax Relief Act signed into law at the end of December 2010 provides relief from the uncertainty I discussed in my Article in August of 2010. Learn more about this, including the changes to Estate Tax exemptions and opting out, and learn about the Washington State inheritance tax exemptions in Death Taxes - Where Are We Headed?.