The Journal of Passthrough Entities
In 2014 and going forward, income tax planning in estate planning will be parallel in importance to estate tax planning. For estate planners, planning for the step-up in basis (until that too is repealed) is a critical step. And in the partnership context, that step becomes critical. Typically, discounts for estate tax purposes reduce the potential step-up in basis and are therefore costly from an income tax perspective. That increased income tax burden will become apparent when a partner exits from the partnership.
How did we do?
Note: Your review may be shared publicly.
Please be advised that any response to this email does not create an attorney-client relationship and, therefore, no attorney-client privilege is attached by this communication. You should not send any confidential information to the firm until you have received a written agreement from the firm to perform legal services on your behalf. Unless you have received such a written agreement, we will not consider any correspondence you send us as confidential. Do you agree with these terms?
ACCEPT the terms or Cancel the email.