Upon death, heirs receive a step-up in basis. -Mike Janko

 

Upon death, heirs receive a step-up in basis.


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This quote is just one of 8 total Mike Janko quotes in our collection. Mike Janko is known for saying 'Upon death, heirs receive a step-up in basis.' as well as some of the following quotes.

We have a lot of cases where couples are in second marriages and each has children of their own.

Mike Janko

If the child is the direct beneficiary, then all of the IRA assets go to the child upon the mother's death and are subject to income tax.

Mike Janko

Our estate tax laws allow the heirs to inherit property with a new cost basis which is equal to the fair market value.

Mike Janko

This is not an uncommon type of estate planning. There are lots of people with sizable retirement plans with a single child as beneficiary, or minors as beneficiaries.

Mike Janko

Life insurance is an important method of estate transfer to at least consider because death benefits can pass to your heirs essentially free of taxes.

Mike Janko