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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