Welcome to the Best Advice Podcast Guys, where financial wisdom meets the diverse insights of industry titans! Hosted by Founder/Owners of distinguished money management firms. Join us as we flip the script from advising to attentive ears, engaging with top-tier industry leaders to discover the secrets of their success and the best advice that shaped their journeys. Uncover a wealth of knowledge beyond finance, making each episode a masterclass in success. Tune in and elevate your perspective with the Best Advice Podcast Guys – where expertise meets inspiration!
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Welcome to the Best Advice Podcast Guys, where financial wisdom meets the diverse insights of industry titans! Hosted by Founder/Owners of distinguished money management firms. Join us as we flip the script from advising to attentive ears, engaging with top-tier industry leaders to discover the secrets of their success and the best advice that shaped their journeys. Uncover a wealth of knowledge beyond finance, making each episode a masterclass in success. Tune in and elevate your perspective with the Best Advice Podcast Guys – where expertise meets inspiration!
How the 'Step-Up' Saves Heirs Hundreds of Thousands
Best Advice Podcast Guys
7 minutes
1 month ago
How the 'Step-Up' Saves Heirs Hundreds of Thousands
In this episode we explain the step-up in basis: when you inherit assets, heirs receive them at current market value instead of the original purchase price, often wiping out decades of taxable gains. Using a real case where land bought for $40,000 in the 1970s was worth $1.8M at death, the step-up reduced a potential $362,000 tax bill to roughly $10,000.We cover how the rule applies to real estate and stocks, why account type matters, and why you should consult a Certified Financial Planner to apply the strategy correctly.
Best Advice Podcast Guys
Welcome to the Best Advice Podcast Guys, where financial wisdom meets the diverse insights of industry titans! Hosted by Founder/Owners of distinguished money management firms. Join us as we flip the script from advising to attentive ears, engaging with top-tier industry leaders to discover the secrets of their success and the best advice that shaped their journeys. Uncover a wealth of knowledge beyond finance, making each episode a masterclass in success. Tune in and elevate your perspective with the Best Advice Podcast Guys – where expertise meets inspiration!
