Estate Planning conundrum

Home Estate Planning Estate Planning conundrum

  • Avatar StarTrekDoc 
    Status: Physician
    Posts: 2056
    Joined: 01/15/2017

    😛  – Aside from my Star Trek and Comic-Con geek outs; I’m a Disney addict too- nice Step-Mommy is a fantasy –present company excluded 😉

    Totally agree, an Irrevocable Trust maybe an option, all depending on what the Parents of this scenario wants in control until their passing.  I believe the concern is at the sibling level, not the parents so think they would want control until they’re called home.


    #52443 Reply
    Avatar FIREshrink 
    Status: Physician
    Posts: 1007
    Joined: 01/11/2017

    Just place assets into revocable trust, which becomes irrevocable on death. Gets a new EIN as well, meaning stepped up basis and no capital gains taxes upon a sale. This s pretty standard estate planning stuff.

    #52474 Reply

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