The Largest Wealth Transfer in History—What It Means for Your Finances and Savings

Fact checked by Vikki Velasquez Key Takeaways Baby boomers are set to pass on approximately $84 trillion in wealth to heirs by 2045, greatly impacting personal finances and the economy.Wills, trusts, ...
Kiplinger on MSN

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable ...
Forbes

Estate Planning: What The Potential Elimination Of Step-Up In Basis Means For Families

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Estate planning has long been about building and preserving wealth, minimizing taxes and ...
The Real Deal

Ditching stepped-up basis would help housing market, industry

I noticed this tweet from a wealth adviser: “The greatest perpetuator of U.S. wealth inequality is the stepped-up basis rule. Basically, when you die, all the capital gains on your assets (home, ...
San Diego Union-Tribune

Why naming a trustee to handle inheritance property is prudent

Dear Liz: I own several properties. I have a living trust that names my two minor children as beneficiaries. I’ve told my attorney that I want to transfer the properties to my children using the ...
KRDO

Are inheritance advances taxable?

The grieving process is always challenging. But for many families, the slow legal process of distributing an inheritance compounds emotional pain with financial uncertainty. When pressing needs for ...