How Biden’s New Tax Proposal Can Impact Your Estate Plans

By |2021-03-25T15:08:57-04:00March 25th, 2021|Categories: Legal|Tags: , |

As the new year brought in a new executive regime, there are many tax and financial implications that follow. With Biden’s tax plan, one of the key areas that Biden has addressed is eliminating the “step up in basis” for transfers of assets at death. The step up in basis allows for the transfer of one’s assets upon death to intended beneficiaries or heirs without the beneficiaries/heirs having to pay a capital gains tax upon