A revocable living trust avoids probate and provides incapacity planning. It does not save estate taxes for most people. Irrevocable trusts can, but come with significant loss of control.

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The Index · Topic 07

Estate Planning

Q: What is the step-up in basis?

When you die, your heirs receive your assets at their current market value — not your original purchase price. This eliminates all unrealized capital gains, making it one of the most powerful tax benefits in the code.

Q: What is the 10-year rule for inherited IRAs?

Under SECURE Act, most non-spouse beneficiaries must withdraw the entire inherited IRA within 10 years. Recent IRS guidance requires annual distributions in years 1–9 if the original owner had started RMDs.

Q: Is the estate tax exemption changing?

Current 2026 federal law provides a $15M basic exclusion amount per person for estates of decedents who die during 2026. Planning still matters because state estate-tax thresholds, portability elections, beneficiary designations, and future law changes can all affect heirs.

2026 estate tax exemption, step-up in basis, trust basics, beneficiary designation mistakes, and the SECURE Act impact on inherited IRAs.

5 articlesCurrent SSA · IRS · CMS dataUpdated 2026

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When Is the Right Time to Set Up a Trust Account?

When most people hear "trust," they think of billionaires, but trusts can be smart estate planning tools for many families. Understanding the right timing can help protect assets, simplify inheritance, and create lasting financial security during retirement.

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Topic 07 · The Index