In the intricate web of life, we often find ourselves entangled in the tantalizing allure of "what ifs." What if I had invested in that stock? What if I had timed the market just right? What if I had pursued that job opportunity or married that special someone? These questions, seemingly innocent at first glance, have the power to lead us down a rabbit hole of remorse and disillusionment.
Estate planning is a complex endeavor, and one of its most intricate components is the "step-up in basis." This mechanism can significantly influence the after-tax value of assets, especially when considering the difference between a full and partial step-up. Financial advisors play a pivotal role in guiding clients through this maze, ensuring they maximize their wealth for themselves and their heirs.