Having Your Cake and Eating it Too Obtaining a Stepped-Up Basis in Irrevocable Trusts By: Cody J. Parks, JD, LLM January 2023 One of the primary objectives in Estate Planning is to maximize the value that passes to your loved ones and minimize the value that goes to the Government. The IRS is well […]
Over the last 38 years of practicing in the Estate Planning arena, I have grown with my clients, intellectually as well as financially. The only attorney who would discount the value of experience would be a young attorney who doesn’t have it. I can say with absolute 100% surety that there is a huge difference […]
How many of you as kids used to play the game, “red light, green light”? Remember the goal was to advance forward as much as you can when the light was green, (the person who was “it” wasn’t looking) but stop and freeze before the light turned red (the “it” person turned around). Transferring wealth […]
Problem: BDIT is an All or Nothing Strategy The BDIT (Beneficiary Defective Inheritors Trust) is not found in any Code Section of the IRC and has not been tested in Court. Like most complex advanced strategies, it is a compilation of many code sections, court cases, Private Letter Rulings, etc. They are so […]
