The following excerpt from a recent report describes and gives an example of a strategy that high net worth taxpayers can use with intentionally defective grantor trusts (IDGTs) to get a backdoor step-up in basis.
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Hani Sarji
Lawyer and writer. Husband, father of daughter, son, brother to one brother and two sisters, uncle to eight nieces and nephews, and great-uncle. Has two dogs and two cats. Loves technology and music.
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