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Jun 1, 2011 12:00 PM
When Electing Out Makes Sense
For this estate, the carryover basis regime was the way to go. Here's why
Our company, Fiduciary Trust Company International, was appointed executor of an estate of a client who died in 2010. Our client's wife had died in 2005.
The value of the estate was approximately $50 million, consisting of a marital trust created under the decedent's late wife's will and his own investments held in a revocable trust and in other investments. Nearly all of the decedent's securities had significant built-in gains; for example, he owned shares of a Fortune 500 company with a basis of just a few dollars. As of the date of his death, that stock was trading for approximately $60 per share. Notably, the decedent would be subject to a state estate tax bill of approximately $7 million.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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