Upstream Planning
While upstream planning may be unconventional, it is a
unique approach that can take advantage of elderly relatives or friend’s
exemption amounts. This approach
involves shifting a value, usually a highly appreciated asset, to an individual
whose estate can afford to absorb the asset without having to pay estate
tax. When that individual dies with the
asset as part of their estate, the beneficiary of the asset can receive it in
return with a step up in basis.
To learn more about upstream planning, contact the
experienced attorneys of Morris Law Group to discuss your options.
