Estate Planning’s Extra Innings

Most people think that estate planning ends at death.  In fact, there are several strategies and elections that may be made after a family member dies to save taxes and make a more equitable distribution of an estate.  A few of the choices available for “post-mortem planning”:

  • The value of an estate is generally the fair market value of the assets on the date of death. However, tax laws also allow the use of an alternate valuation date that is six months after the date of death.  If the value of assets — particularly clo