The impact of the Van Hollen bill on current estate administration {PFP Section}
AICPA Personal Financial Planning (PFP) · AICPA & CIMA
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Show Notes
One of the potential tax changes widely discussed is the replacement of the IRC Section 1014 basis adjustment with gain realization at gift, death, and certain other transfers. In this episode of the PFP Section podcast, Bob Keebler and Marty Shenkman share the impact this could have on clients, including:
- The difference between funding trusts on a fractional share basis versus a specific amount
- Gains that could be triggered right now for clients who have passed away and how to avoid
- Why it may be important to fund trusts quickly after death going forward
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