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Basis is Important in Estate Planning

April 26, 2018 by Morris Hall, PLLC Leave a Comment

When choosing the direction to take in estate planning, it’s important to consider the impact on income tax basis. This article examines the nature of basis and follows an example from acquisition of property to death and looks how basis is adjusted along the way. Since the property is included at death, the basis receives a step-up to the value of the property at death. Upcoming articles will examine how common estate planning strategies impact income tax basis.
Basis is Important in Estate Planning

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Morris Hall, PLLC
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Looking for an estate planning lawyer near you? We have office locations in Phoenix, Mesa, Scottsdale, West Valley, Carefree, Prescott, Sedona, Flagstaff, Tucson, and Oro Valley in Arizona. In New Mexico, we have office locations in Albuquerque, Santa Fe, and Las Cruces, so please visit us at the location that is closest to you.

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