Reported about 6 hours ago
Upstream gifting is a tax-saving estate planning technique that involves transferring valuable assets to an older generation, such as parents or grandparents, who will then pass those assets to the next generation. This approach allows the family to benefit from a step-up in basis, reducing capital gains taxes for heirs while minimizing potential estate taxes. By shifting the inheritance to older relatives, individuals can effectively preserve more wealth within the family, thus enhancing the financial legacy passed down to children.
Source: YAHOO