The Step-Up In Basis

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00:00 The Step-Up in Basis
0:44 The Step-Up Rule Often Surprises People
1:10 The Three Parts to this Livesteam
2:00 Some People Call the Step-Up a Loophole
2:26 What is the Step Up in Basis
3:30 Capital Gains Tax Applies Only When Assets are Sold
4:07 Carry-Over Basis
4:54 Gift vs Inheritance Matters
6:01 Community Property States
10:28 Step-Up Rule Does Not Apply to Traditional IRAs or 401(k)s
12:08 Example - Stock Bought For $10,000 Now Worth $2 Million
22:30 Planning Strategies
22:54 Die With Asset in Estate
23:49 Old Way of Estate Planning DId Not Allow Double Step Up
25:05 Credit Shelter Trust Not Needed as Much Today
29:50 The Dilemma Married People Have
33:35 Surviving Spouse Perhaps Should Maximize Distributions From First Spouse to Die's Trust
34:54 Special Rules Regarding Gifting the Home
38:10 Transferring Appreciated Assets To Terminal Person
39:00 Q&A