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Understanding Irrevocable Trust Step Up in Basis for Effective Estate Planning

Discover the intricacies of irrevocable trusts and the pivotal “step up in basis” in our detailed article. Learn how these trusts can enhance your estate planning by minimizing tax burdens for beneficiaries while maximizing asset protection. We’ll explore various types of irrevocable trusts, clarify common misconceptions, and explain the tax benefits tied to stepping up asset basis upon the grantor’s death. Secure your legacy and optimize wealth transfer today!