IMPORTANT: The tax law gives two choices to the executors of estates of decedents who died in 2010:
Choice #1 is to apply the old 2010 rules
Choice #2 is to apply the newly enacted 2011 and 2012 estate tax rules
If you are the executor of an estate (of someone who died in 2010), which choice makes sense for you? You’ll find answers in our new article titled Tax Tips: Tax Choices for Estates of Those Who Died in 2010.
Three ways our fact-filled article can help you:
- We’ll examine your choices in detail. The tax law can be quite complicated. That’s why you can benefit from our to-the-point summary of the facts. You’ll get a much better understanding of your options when you read the full article.
- We’ll explain the modified 2010 step-up in basis. Under the 2010 rules, an executor typically may increase the basis in assets owned by the decedent and transferred to the beneficiaries at death. Under these rules, each decedent’s estate generally is permitted to increase the basis of assets transferred by up to a total of $1.3 million. But that’s just part of the story. You’ll get more complete information when you read the full article.
- We’ll outline the benefits of both choices in easy-to-understand language. For example, you’ll learn under what circumstance you can pay zero estate tax. Don’t miss this chance learn a lot when you read the full article.