My mother, who is very old, was recently diagnosed with a very aggressive cancer. She currently has a revocable trust that becomes irrevocable at death.The trust owns the majority of shares in a real estate company, while my siblings and I each own a small percentage of shares. Given the tax law changes for 2018, would it be wise to gift our shares back to my mother? We could limit the tax liability as both the gift tax and estate tax exemptions have been greatly increased. In addition, the cost basis of all the shares would be stepped up at her death. Is there a certain length of time that assets must be in a trust before the trustee dies?
Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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