07 Thursday Jan 2016
Posted in Beneficiaries
Beneficiaries are an important part of an estate because of the rights they retain. Because of these rights, a beneficiary can make life difficult for an executor. Therefore, it’s important for an executor to know the beneficiaries and to understand their rights.
28 Monday Dec 2015
Posted in Taxes
Tags
alternate valuation date, Basis, Beneficiary, Capital Gains, Cost Basis, date of death, Estate Tax Return, Executor, Fair Market Value, stepped-up basis
Every piece of property an individual owns has a basis used in calculating capital gains on a sale of property. So, an executor must understand the special rules related to capital gains on estate or inherited property. The stepped-up basis rule is an important rule the executor needs to understand.